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Yes Bank Q3 PAT rises 16% QoQ to Rs 151 cr

22-Jan-21 17:22 Hrs IST

The bank's total income grew by 9.5% to Rs 6,518.37 crore in Q3 FY21 from Rs 5,952.14 crore in Q2 FY21. Profit before tax (PBT) tumbled 50% to Rs 86.70 crore in Q3 FY21 over Q2 FY21. The bank reported a tax rebate of Rs 64.01 crore in Q3 December 2020, which aided the profit. The result was announced after market hours today, 22 January 2021.

The bank's net interest income (NII) for the quarter grew 29.7% quarter-on-quarter (QoQ) to Rs 2,560 crore in Q3 December 2020 from Rs 1,973 crore in the previous quarter. Net interest margin Q3 FY21 stood at 3.4% as against 3.1% in Q2 FY21 and 1.4% in Q3 FY20.

On the asset quality side, gross non-performing assets (NPAs) stood at Rs 29,546.54 crore as on 31 December 2020 as against Rs 32,344.36 crore as on 30 September 2020 and Rs 40,709.20 crore as on 31 December 2019.

The ratio of gross NPAs to gross advances stood at 15.36% as on 31 December 2020 as against 16.90% as on 30 September 2020 and 18.87% as on 31 December 2019. The ratio of net NPAs to net advances stood at 4.04% as on 31 December 2020 as against 4.71% as on 30 September 2020 and 5.97% as on 31 December 2019.

Provisions and contingencies spurted 85% to Rs 2198.84 crore from Rs 1187.34 crore in Q2 September 2020.

The bank's capital adequacy ratio stood at 19.6% in Q3 FY21 from 19.9% in Q2 FY21. Provision coverage ratio was reported at 76.8% in Q3 FY21 as against 75.7% in Q2 FY21.

Yes Bank's total advances grew by 2% to Rs 169,721 crore in Q3 FY21 from Rs 166,923 crore in Q2 FY21. Total deposits in Q3 FY21 stood at Rs 146,233 crore, rising by 8% from Rs 135,815 crore in Q2 FY21. CASA ratio stood at 26% in Q3 FY21, higher than 24.8% in Q2 FY21.

As of 31 December 2020, the total capital infused and outstanding stood at Rs 149 crore in YES Securities (India), Rs 109.5 crore in YES Asset Management (India) and Rs 0.8 crore in YES Trustee. All three are wholly owned subsidiary companies of the bank. The bank has provided Rs 43.8 crore for impairment of investment in YES Asset Management (India) and YES Trustee.

Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers.

Share of Yes Bank fell 1.45% at Rs 17 on Friday.