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BSE   23 Oct 17 | 12:00 AM

354.10 -3.95 (-1.1%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 532648
Face Value: N.A.

NSE   23 Oct 17 | 12:00 AM

353.90 -3.9 (-1.09%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: YESBANK
Performance
1 Week : Rs 367.50 (-3.65%)
1 Month : Rs 360.75 (-1.84%)
1 Year : Rs 263.41 (34.43%)
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YES Bank gains as Q2 profit beats forecast

SI Reporter / Mumbai 20 Oct 16 | 01:09 PM

Photo courtesy: www.twitter.com

YES Bank has moved higher by 2.5% to Rs 1,324 on the National Stock Exchange (NSE) after the bank reported a better-than-expected 31% year on year (YoY) growth in net profit at Rs 802 crore for the quarter ended September 30, 2016 (Q2FY17). The private sector lender had profit of Rs 610 crore in year ago quarter.

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“Net Interest Income grew 30.5% YoY to Rs 1,446 crore on back of robust growth in advances & CASA. Net interest margin (NIM) expanded to 3.4% in Q2FY17 from 3.3% a year ago," YES Bank said in a statement.

Analysts on an average had expected profit of Rs 764 crore on net interest income of Rs 1,376 crore.

Gross non-performing advances (GNPA) stood at 0.83% in Q2FY17 against 0.61% in Q2FY16 and 0.79% in Q1FY17.

Net non-performing advances stable at (NNPA) at 0.29% as at Q2FY17, as compared to previous quarter. It was 0.20% in Q2FY16.

“The Bank achieved an important milestone with CASA ratio crossing 30% for the first time to 30.3%. It demonstrates improving productivity and efficiency of our retail liabilities/branch banking growth engines", said Rana Kapoor, Managing Director & CEO, YES Bank.

At 01:05 pm, the stock was up 2% at Rs 1,320 on NSE as compared to 0.40% rise in Nifty 50 index. The trading volumes on the counter nearly doubled with a combined 4.11 million shares changed hands on the NSE and BSE so far.

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