Yes Bank Q1FY22 Results: DECLARED! Highest net profit registered since December 2018 - Check net income and more
Total net income during Q1 FY22, however, declined 2.8 per cent to Rs 2,459 crore, compared to Rs 2,529 crore in the same quarter corresponding year, Yes Bank mentioned.
Yes Bank on Friday announced its first quarter earnings for the financial year 2021-22. The private lender net profit zoomed 355.2 per cent to Rs 207 crore for Q1 FY22, against Rs 45 crore in Q1 FY21. This was the highest net profit registered since December 2018, the bank said.
Total net income during Q1 FY22, however, declined 2.8 per cent to Rs 2,459 crore, compared to Rs 2,529 crore in the same quarter corresponding year, Yes Bank mentioned.
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The net interest income (NII) was at Rs 1,402 crore from Rs 1,908 crore in the year-ago period, a downfall of 26.5 per cent year-on-year (YoY). Net interest margins during the quarter was 2.1 per cent, down from 3 per cent in the same quarter corresponding year, Yes Bank mentioned.
Although, non-interest income surged 70.2 per cent during the quarter under review to Rs 1,056 crore, against Rs 621 crore in the year-ago period. However, operating profit in Q1 FY22 slipped 19.8 per cent to Rs 920 crore, from Rs 1,147 crore in Q1 FY21.
Provisions dropped 40.7 per cent during Q1 of the ongoing fiscal to Rs 644 crore, from Rs 1,087 crore in the same quarter last fiscal.
Corporate recoveries and resolutions stood at Rs 1,643 core, far outpace slippages of Rs 1,258 crore and almost entirely offset total slippages, Yes Bank said.
CASA Ratio stood at 27.4 per cent, up 130 bps Q-o-Q- Highest since December 2019. Over 1.5 lakh CASA accounts opened in Q1FY22, the bank said.
Retail Advances cross Rs 50,000 crore mark. New Business Generation continues for Q1FY22, where Retail Disbursements was at Rs 5,006 cr, SME Disbursements was at Rs 3,242 Cr, Wholesale Banking Disbursements was at Rs 3,625 Cr.
The bank also mentioned that 80 per cent employees have been vaccinated during free vaccination drives across the country. Yes Bank has implemented work from anywhere, which provides employees improved flexibility and support.
Yes Bank saw its advances slightly lower to Rs 1,63,654 crore in Q1 FY22, from Rs 1,64,510 crore in Q1 FY22. Meanwhile, deposits surged 39 per cent on-year to Rs 1,63,295 crore in the quarter under review, against Rs 1,17,360 crore in the same quarter last fiscal.
Total balance sheet increased 6.7 per cent to Rs 2,72,527 crore in Q1 FY22, from Rs 2,55,485 crore in Q1 FY21.
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08:15 PM IST