Business

Yes Bank Achieves Stunning 164% Profit Surge in Q3FY25, Reaching Rs 612 Crore

Yes Bank's Remarkable Financial Turnaround

Yes Bank has announced a staggering 164.5% increase in net profit for the quarter ending December 31, 2024, soaring to Rs 612 crore from Rs 231 crore in the same period last year. This marks a significant milestone in the bank's journey towards financial stability and growth.

Yes Bank Q3FY25 net profit rises 164% to Rs 612 crore

Strengthening Financial Fundamentals

The bank's net interest income (NII) witnessed a 10.2% year-on-year growth, reaching Rs 2,224 crores, while maintaining stable net interest margins (NIMs) at 2.4%. Non-interest income also saw a substantial rise of 26.6%, contributing to a total net income increase of 16.3% to Rs 3,736 crore.

Leadership's Strategic Vision

Prashant Kumar, MD & CEO of Yes Bank, highlighted the bank's focus on improving margins, fee income, and cost reduction as key drivers behind this profitability. Despite challenges in liquidity and deposit mobilization, the bank has achieved five consecutive quarters of net profit expansion.

Operational Excellence and Asset Quality

Operating profit for Q3FY25 surged by 24.9% to Rs 1,079 crore, with operating expenses growing at a controlled rate of 13.2%. The bank's asset quality improved significantly, with the gross non-performing asset (GNPA) ratio decreasing to 1.6% and the net NPA ratio dropping to 0.5%. Provisions fell by 53.4% to Rs 259 crore, reflecting enhanced asset quality.

Deposit and Advance Growth

Yes Bank's deposits grew by 14.6% year-on-year, supported by a 15.7% increase in average deposit balances. The CASA ratio improved to 33.1%, indicating stronger customer engagement. Advances rose by 12.6%, with notable growth in SME and mid-corporate lending sectors.