Private sector lender Yes Bank on Wednesday announced a 35% growth in net profit at Rs. 342 crore year-on-year for the quarter ended December against Rs. 254 crore in the corresponding period previous year driven by healthy growth in interest and non-interest income.
When asked about possible acquisition of Royal Bank of Scotland (RBS) India assets, Rana Kapoor, managing director and CEO, said Yes Bank would be 'receptive' to such opportunities to boost its retail network.
Net interest income (the difference between interest earned and interest paid) increased by 37% to Rs. 584 crore from Rs. 428 crore in the year-ago period while non-interest income grew by 48% to Rs. 313 crore from Rs. 211 crore a year earlier.
Net interest margin of the bank improved to 3% during the quarter from 2.8% in the same quarter previous year.
Total advances of the bank grew by 22% to Rs. 43,857 crore from Rs. 35,868 crore last year.