Yes Bank Q2 profit drops by 32%, net profit up by 27%: Report

Yes Bank improved on its asset quality and brought down gross non-performing assets to 12.89 per cent of gross advances as of September 30, 2022 as against 14.97 per cent by end of September 2021.

Yes Bank on Saturday reported 32 per cent decline in standalone net profit at ₹152.82 crore for September quarter 2022 on higher provisions.

Total income of Yes Bank during July-September 2022-23, however, was higher at ₹6,394.11 crore. (MINT_PRINT)

The bank had posted a net profit of ₹225.50 crore for the year-ago same period. In preceding June quarter 2022, the net profit stood at ₹310.63 crore.

Total income during July-September 2022-23, however, was higher at ₹6,394.11 crore as against ₹5,430.30 crore in the same period a year ago, Yes Bank said in a regulatory filing.

The private sector lender improved on its asset quality and brought down gross non-performing assets (NPAs or bad loans) to 12.89 per cent of gross advances as of September 30, 2022 as against 14.97 per cent by end of September 2021.

Likewise, net NPAs came down to 3.60 per cent from 5.55 per cent.

However, provisions for bad loans and contingencies were raised to ₹582.81 crore for Q2FY23 from ₹377.37 crore kept aside for Q2FY22.