Profit before tax was at Rs 431.61 crore in the March quarter, up 59.07% from Rs 271.34 crore recorded in the corresponding quarter last year.

Net interest income (NII) stood at Rs 2,153 crore, up 2.3% YoY as against Rs 2,105 crore. Net interest margin (NIM) declined to 2.4% in Q4 FY24 as compared to 2.8% registered in Q4 FY23.

During the quarter, operating profit was at Rs 902 crore, up 1.52% from Rs 889 crore posted in the same period a year ago.

Provisions (other than tax) and contingencies slipped 23.75% YoY to Rs 470.86 crore in Q4 FY24.

On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 3,982.56 crore as on 31 March 2024 as against Rs 4,394.57 crore as on 31 March 2023.

The gross NPA ratio reduced to 1.7% as on 31 March 2024 as compared to 2.2% as on 31 March 2023. The net NPA ratio declined to 0.6% as on 31 March 2024 as against 0.8% as on 31 March 2023.

Prashant Kumar, managing director & CEO, said, “This quarter demonstrates a significant step in the RoA expansion journey, with Q4 FY24 RoA expanding to 0.5%. This is despite the one-off gains from tax refunds, SR recoveries and ARC Sale, being prudently utilized for strengthening the asset quality metrics- for instance, the NNPA + Net carrying value of SRs have more than halved over the course of the year to 1.1% from 2.4% in FY23.

Moreover, we continue to witness strong momentum in our liability franchise with growth in Deposits expanding to over 20% YoY for first time in last 8 quarters. Importantly, despite challenging environment during the course of the year, our CASA ratio has expanded 10 bps YoY to 30.9%.

This quarter, the bank continued to expand on its digital footprint with significant partnerships reflecting the inherent strength in the capabilities and technology infrastructure of the bank. As the bank embarks on the fifth year of this new journey, we remain focused on diligently executing the RoA expansion roadmap.”

Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.