Yes Bank Q1 net profit up 32% to Rs 965 cr

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New Delhi: Yes Bank on Wednesday reported a 32 percent gains in net profit to Rs 965.52 crore for the April-June quarter concluded contrast to year-before period. The bank posted a net profit of Rs 731.80 crore in the similar quarter of previous fiscal. The bank further stated in a regulatory filing that the board of directors on Wednesday at the gathering approved sub-division of one equity share into five i.e., in the ratio of 1:5.

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The Board of Directors approved the sub-division of past 1 equity share of face value of Rs 10 fully paid up into 5 equity shares of Rs 2 fully paid up. Total income of the bank climbed to Rs 5,785.96 crore in first quarter, from Rs 4,762.83 crore in the similar quarter of 2016-17. Interest income grew to Rs 4,653.80 crore throughout the first quarter of 2017-18 from Rs 3,801.83 crore similar period year before, though income on investments drops to Rs 902.72 crore from Rs 958.97 crore year ago.

Gross non-performing resources (NPAs) of the bank rose to 0.97 percent of gross advances as on 30 June, 2017, against 0.79 percent as on 30 June, 2016. Net NPAs or terrible credits were up barely at 0.39 percent of net advances on 30 June, 2017, from 0.29 percent toward the finish of the main quarter of FY2016-17.

Arrangements for awful advances and possibilities rose to Rs 285.78 crore in the June quarter from 206.63 crore in the year prior period. Yes Bank Managing Director and CEO Rana Kapoor stated: “We will be in the blink of an eye beginning our fourteenth year of business operations one more quarter from now and we stay well on course to accomplish our expressed goals for 2020 with yet another quarter of general agreeable execution.”

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Yes Bank detailed 44 percent development in net premium wage to Rs 1,808.90 crore in the primary quarter, driven by development in advances and current record and investment accounts (CASA) stores and enduring extension in net premium edge (NIM).

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