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Yes Bank recorded a net profit of Rs 3.67 crore in the quarter ended March 31, 2022, compared to a net loss of Rs 3,788 crore in the same quarter of the previous fiscal. PAT rose as much as 37.9 per cent quarterly.
Yes Bank posted a net profit of Rs 266 crore as at December 31, 2021. Net interest income (NII) for Q4 FY22 was Rs 1,819 crore, a sharp increase of 84.4 per cent from Rs 987 crore in Q4 FY21. NII edged up 3.1 percent from Rs 1,764 crore in the previous quarter.
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Net interest margin (NII) stood at 2.5 per cent in Q4FY22 versus 2.4 per cent in Q3FY22 and 1.6 per cent in Q4FY21.
Provisions steeply dropped to Rs 271 crore in Q4FY22, down by 94.7 per cent from Rs 5,113 crore in Q4FY21 and lower by 27.7per cent from Rs 375 crore in Q3FY22.
In a statement from Prashant Kumar, Managing Director and Chief Executive Officer of YES BANK, “This transformational journey underway at YES Bank has resulted in continued improvement in balance sheet growth, accelerated optimization, improved asset quality trends, enhanced liquidity and capital Enhanced condition over the past two years.
While the core operating profitability of the franchise continues to improve, the drag from legacy stressed assets has significantly reduced, resulting in Net Profitability.”
