NEWS & ADVICE : SAVINGS ACCOUNTS
Yes Bank gained a profit of 9.6%
By Vaibhav Aggarwal
Jul 24, 2014
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It has been reported that yes bank has earned a profit of 9.6% on its net profit at Rs 439.5 crore for the first quarter ended June 2014. The Financial officer of the bank also reported that the bank has gained higher profits driven by a 13 percent increase in net interest income.

It was further reported that bank has earned approximately the profit of Rs 100-125 crore of gains on account of interest rates falling. Earlier the asset quality of the bank was deteriorating as a result the NPA increased from 0.22% to 0.33%. But the managed to controlled and made the NPAs stable and prevented it from further deterioration.

Total advances rose 23.2 percent to Rs 58,988 crore, while deposits grew 16.6 percent to Rs 76,102.8 crore as of June 30, 2014. The bank's balance sheet grew by 8.9 percent to Rs 109,743.3 crore as of end June.


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