Yes Bank's Q2FY22 YoY net profit up over 74%
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Yes Bank on Friday reported a rise of 74.3 per cent in its net profit for Q2FY22 on a year-on-year basis.
The lender's net profit during the preiod under review rose to Rs 225 crore from Rs 129 crore for Q2FY21.
However, the bank's net interest income declined on a YoY basis to Rs 1,512 crore from Rs 1,973 crore earned during Q2FY21.
In contrast, the non-interest income rose by 30.2 per cent during the period under review to Rs 778 crore from Rs 597 crore.
Similarly, the bank's provisions declined on a YoY basis. It fell to Rs 377 crore from Rs 1,078 crore.
"GNPA ratio at 15 per cent vs 15.6 per cent last quarter, Overdue Book (31- 90 days) lower by Rs 6,000 crore Q-o-Q," the lender said in a statement.
"Resolution momentum continues with Rs 987 crore of Cash Recoveries & Rs 969 crore of upgrades in Q2FY22."
In addition, the bank reported a pickup in new business generation.
