Yes Bank Q3 net up 33% at Rs 254.1 cr

Yes Bank Q3 net up 33% at Rs 254.1 cr
Private sector lender, Yes Bank has reported a growth of 33 per cent in net profits for the third quarter ended December 31, 2011 at Rs 254.1 crore.

The bank had posted the net profit of Rs 191.12 crore during the same period a year ago, said Yes Bank in its filing to the Bombay Stock Exchange on January 24, 2012. Also operating profits grew 28.1 per cent to Rs 398.8 crore during Q3 FY12.

Meanwhile, net interest income of the bank grew 32.3 per cent to Rs 427.6 crore during Q3 FY12, as against Rs 323.2 crore during Q3 FY11. Also, non interest income grew 30.8 per cent to Rs 211.4 crore during the quarter under review.

Advances during the quarter rose 15.3 per cent to Rs 35,867.8 crore as against Rs 31,112.2 crore during the same period a year ago. Also, savings account deposits of the bank almost doubled during the quarter on back of higher interest rate offerings at 7 per cent by Yes bank. Capital Adequacy ratio stood at 16.1 per cent with Tier-1 ratio of 9.2 per cent as at December 31, 2011.

Commenting over the performance, Rana Kapoor, CEO and MD, said “I am pleased to report Yes Bank has delivered another sustained quarter of financial performance with net profits crossing Rs 254 crore".

Cheering the Q3 numbers, on Tuesday, shares of the bank were trading at Rs 317.50 a piece, up 3.56 per cent from previous close on BSE at 01:21 PM.

Dion Global Solutions Ltd

Read more about: yes bank, results, bse, revenue
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