Mumbai (Maharashtra) [India], January 22 (ANI): Yes Bank said on Friday its net profit totalled Rs 151 crore for Q3 FY21 as compared to a loss of Rs 18,560 crore in Q3 FY20.
In the second quarter ended September (Q2 FY21), it had a net profit of Rs 129 crore.
The private sector lender's net interest income grew by 29.7 per cent quarter-on-quarter to Rs 2,560 crore due to higher net interest margins at 3.4 per cent.
The non-interest income for Q3 FY21 saw an increase of 69.4 per cent quarter-on-quarter to Rs 1,197 crore. A strong pick up in retail and SME disbursements pushed up net advances by 1.7 per cent to Rs 1.69 lakh crore.
On the other hand, operating expenses declined by 13.2 per cent year-on-year to Rs 1,472 crore.
Yes Bank said its total step up in provisioning of Rs 2,935 crore consists of additional Rs 765 crore towards Covid-19 related provisioning.
Liquidity coverage ratio remains healthy at 120 per cent as on December 31, 2020, it added.
On March 5 last year, the Reserve Bank of India (RBI) had placed the crisis-hit lender under a moratorium and appointed Prashant Kumar as the new CEO and Managing Director.
According to RBI-backed rescue plan, State Bank of India acquired up to 49 per cent stake in Yes Bank. HDFC and ICICI Bank infused Rs 1,000 crore each, Axis Bank Rs 600 crore and Kotak Mahindra Bank Rs 500 crore. (ANI)