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YES Bank reported a net profit of Rs 367 crore in the January-March quarter compared to a loss of Rs 3,787.75 crore in the year-ago period, citing a fall in provisions for the recovery. Analysts at Bloomberg had estimated a loss of Rs 254 crore for the quarter.
Sequentially, net profit is up 38 per cent. Also the private bank in FY22 earned net profit to the tune of Rs 1,066 crore, the first full year of profit since FY19.
Net interest income (NII) increased by 84 per cent year-on-year (YoY) and 3.1 per cent sequentially to Rs 1,819 crore. Non-interest income has grown by 28 per cent YoY and 20 per cent sequentially to Rs 882 crore. Non-interest margin (NIM) of the lender stood at 2.5 per cent in Q4FY22.
Provisions fell significantly to Rs 271 crore in Q4FY22 compared to Rs 5,113 crore in the year-ago period. In the previous quarter, the bank had provided Rs 375 crore.
Asset quality improved, with gross non-performing assets (NPAs) at 13.9 per cent in Q4FY22, down 8 basis points sequentially. Net NPAs also improved by 8 basis points to 4.5 per cent. The provision coverage ratio of the bank improved to 81.5 per cent.
Resolution momentum continues to be strong as far as recoveries is concerned, with total recoveries and upgrades of the bank for FY22 at Rs 7,290 crore versus Rs 5,782 in FY21; Q4FY22 cash recoveries and upgrades was at Rs 1,828 crore for the bank.
Advances increased by 8 per cent YoY and 3 per cent sequentially to Rs 1.81 trillion. It has seen gross retail disbursement of Rs 10,201 crore in the quarter and Rs 33,000 crore in FY22. Around Rs 857 crore was disbursed in the quarter under the rural segment. SME disbursement for the quarter was Rs 5,089 crore and wholesale banking saw Rs 3,776 crore.
Deposits have seen an increase of 21 per cent YoY and 7 per cent sequentially to Rs 1.97 trillion.
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