Yes Bank Reports Sharp Rise in Q3 Profit
Yes Bank posted a strong jump in net profit for the third quarter ended December 31, driven mainly by a sharp reduction in provisions for bad loans. The private lender reported a significant year-on-year increase in profit, reflecting improving financial stability after years of stress.
Lower Provisions Boost Earnings
The profit growth was largely supported by lower provisioning costs, as the bank continued to clean up its balance sheet. Net interest income also rose during the quarter, helped by steady loan growth and improved deposit mobilisation.
Asset Quality and Financial Health
Yes Bank reported stable asset quality, with a marginal improvement in its gross non-performing asset ratio compared with the previous quarter. Management said the bank remains focused on strengthening its core lending business and improving profitability in a sustainable manner.
Outlook
Bank officials indicated that a longer-term strategic roadmap is expected in the coming months as Yes Bank looks to build on recent gains, expand its loan book cautiously, and further improve asset quality amid a competitive banking environment.
