YES BANK Q1 Results: Net Profit surges 38.2%

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oi-Monika Nihalani

By Monika Nihalani

Published: Thursday, July 21, 2011, 13:30 [IST]

Private sector lender, YES BANK, the part of Indian banking space declared its first-quarter results of FY12. The bank's profits rose by 38.2% to Rs 216.1 crore this quarter.

The bank had posted Rs 156.4 crore in corresponding quarter previous year.

The bank which is engaged in providing a range of banking and financial services posted 35.1% growth in Net Interest Income i.e. from Rs. 262.1 crore in corresponding quarter previous year to Rs 354.2 crore this quarter.

It's deposits grew by 44% and customer assets i.e. loans and credit substitutes grew by 34.7T%.

“I am pleased to report that YES BANk has once again delivered another impressive quarter of financial performance with stable margins in an increasing interest rate environment," Rana Kapoor, Founder, MD & CEO of YES BANK said in press release.

Bank's total advances grew by 26.1% from Rs 26,256.8 crore a year earlier to Rs 33,104.2 crore as on June 30, 2011.

Commenting on Asset quality, he further said, “We also maintained strong asset quality in the backdrop of increased event risks and macro-economic pressures."

Bank added 41 new branches across the country during the quarter which reached to 255 in total.

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