Yes Bank has announced the result for the September quarter. The Bank’s net profit stood at Rs 225 crore in this quarter. The Bank’s net profit in the September 2020 quarter was Rs 129 crore. The net interest income of the Bank declined by 23 per cent to Rs 1512 crore. However, there was a growth of 30 per cent in non-interest income, and it stood at Rs 778 crore.
Yes Bank September Result Net Profit
In terms of asset quality, the GNPA ratio (Gross Non-Performing Asset) fell to 15 per cent. This ratio was 15.60 per cent in the June quarter. The NNPA ratio fell to 5.5 per cent in the September quarter from 5.8 per cent in the June quarter. Apart from this, there has been a decline in the slippage of the Bank.
The Bank’s net slippage stood at Rs 1783 crore in the second quarter of the current financial year against Rs 2233 crore in the June quarter. In this quarter, the Bank has made a provision of 336 crores.
No effect of the ban on Mastercard
The Bank said that the Reserve Bank had recently banned Mastercard. This has not affected the functioning of the Bank in any way. Integration work with Visa card has been completed. Apart from this, the Bank is also in talks with NPCI / Rupay card. Very soon, there will be a success in this conversation.
At 3 p.m., the share of Yes Bank was seen falling by more than 3.50 per cent. This stock was currently trading at the level of Rs 13.80. The 52-week high is Rs 20.75, and the low is Rs 10.50. The market cap of the Bank is Rs 34,450 crore. In the September quarter, mutual funds have reduced their stake in it from 0.73 per cent to 0.54 per cent. FIIs/FPIs have reduced their stake from 10.45 per cent to 7.92 per cent.