Yes Bank's Q3 profit surges by over 160% to ₹612.27cr
What's the story
Yes Bank has posted a whopping 164.5% YoY jump in its profit after tax (PAT) for the third quarter ending December 2024, at ₹612.27 crore.
The bank's net interest income (NII) also witnessed an upward trend with a 10.2% YoY increase.
The NII stood at ₹2,224 crore while net interest margins (NIMs) remained stable at 2.4%, both YoY and QoQ.
Financial performance
Interest earnings and expenditure rise
Yes Bank's interest earned during this period stood at ₹7,829.13 crore, a 12% YoY increase.
Meanwhile, the bank's interest expense also increased by 12.8% to ₹5,605.62 crore from ₹4,967.96 crore in the same quarter of the previous year.
These numbers show a balanced growth in both earnings and expenditures for the bank during Q3 of FY25.
Asset health
Bank reports improved asset quality
Yes Bank has also witnessed an improvement in its asset quality metrics for the third quarter.
The Gross Non-Performing Asset (GNPA) ratio improved YoY, coming in at 1.6% in Q3 FY25 as opposed to 2% in Q3 FY24.
The Net Non-Performing Asset (NNPA) ratio also saw a significant decline from 0.9% in Q3 FY24 to 0.5% in Q3 FY25, reflecting a healthier financial status for the bank during this period.
Account growth
CASA ratio and account balances grow
The bank's current account savings account (CASA) ratio improved to 33.1% in Q3 FY25, up from 29.7% in the same quarter of the previous fiscal.
Current account balances rose by 21.1% YoY, with average CA growth at 22.1% YoY.
Meanwhile, savings account balances also witnessed robust growth, increasing by 33.3% YoY and 9.2% sequentially, further strengthening the bank's financial position during this period.
Deposit growth
Advances and total deposits rise in Q3
Yes Bank's advances were at ₹2,44,834 crore, growing 12.6% YoY while its overall deposits were at ₹2,77,224 crore, rising 14.6% YoY.
This reflects a healthy growth in the bank's lending and deposit activities in the third quarter of FY25.
Ahead of its Q3 results announcement today, the bank's shares closed 1.24% higher at ₹18.25 on the BSE on Friday.