HomeBuisnessYes Bank Q3 results: Yes Bank Net income increased to Rs 231.46...
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Yes Bank Q3 results: Yes Bank Net income increased to Rs 231.46 cr, NII increased to Rs 2,017 cr | Yes Bank Q3 results announced: Net profit up 349.7% to ₹231.6 crore in Q3FY24, net interest income up 2.4% PiPa News

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Yes Bank Q3 results: Yes Bank Net income increased to Rs 231.46 cr, NII increased to Rs 2,017 cr | Yes Bank Q3 results announced: Net profit up 349.7% to ₹231.6 crore in Q3FY24, net interest income up 2.4%

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  • Yes Bank Q3 Results: Yes Bank Net Profit Rises To Rs 231.46 Cr, NII Rises To Rs 2,017 Cr

Mumbai2 days ago

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Private lender Yes Bank declared the results of the third quarter (October-December) of the financial year 2023-24 today ie on Saturday (January 27). The bank’s net profit in Q3FY24 rose 349.7% year-on-year (YoY) to Rs 231.6 crore. The bank registered a net profit of Rs 51.5 crore in the same quarter last year.

Net interest income rose 2.4%
Yes The Bank’s net interest income (NII) in Q3FY24 grew 2.4% year-on-year (YoY) at Rs 2,017 crore. The bank’s gross non-performing assets (NPA) or bad loans reached 2.0%, which is the same as last year. In the third quarter, the bank’s net NPA was 0.9%, which was 1.0% in the same quarter last year.

The gross NPA stood at ₹4,457 crore
Yes Bank’s gross NPA increased to Rs 4,457 crore in the December quarter, which was Rs 4,319 crore in the September quarter. Meanwhile the bank’s net NPA rose to Rs 1,934 crore in Q3FY24. In Q2FY24 it was Rs 1,885 crore.

On Thursday, shares of Yes Bank closed at Rs 24.90, up 0.81%.  The bank's market cap is Rs 71.62 thousand crore.

On Thursday, shares of Yes Bank closed at Rs 24.90, up 0.81%. The bank’s market cap is Rs 71.62 thousand crore.

The capital adequacy ratio is 16%.
Yes Bank’s capital adequacy ratio under Basel III norms stood at 16% at the end of December, compared to 18% in Q3FY23 and 17.1% in the July-September quarter of this financial year. The bank’s net tax outgo in the December quarter rose three times year-on-year to Rs 78 crore. It was Rs 17 crore in Q3FY23.

The provisions amount to Rs 554.7 crore
One reason for this huge jump in bank profits is the reduction in provisions over the same period. The bank provided Rs 554.7 crore for Q3FY24, while it provided Rs 844.7 crore in December quarter FY23. However, the provisions were higher in the December quarter as compared to the figure of Rs 500 crore in the September quarter.

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