Net interest income (NII) stood at Rs 1,925 crore for Q2FY24, registering a de-growth of 3.3% year on year (YoY). Net interest margin (NIM) for Q2 FY24 was at 2.3% down nearly 30 bps as compared to 2.6% reported in Q2 FY23.

The private bank's operating profit before provisions & contingencies increased by 1.38% YoY to Rs 801.33 crore in the quarter ended 30 September 2023.

The bank's operating expenses in the second quarter of FY24 came in at Rs 2,333.74 crore, registering a growth of 12.46% YoY.

On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 4,319.03 crore as on 30 June September 2023 as against Rs 27,419.11 crore as on 30 September 2022.

The gross NPA ratio slipped to 2% as on 30 September 2023 as compared to 12.9% as on 30 September 2022. The net NPA ratio reduced to 0.9% as on 30 September 2023 as against 3.6% as on 30 September 2022. Gross slippages stood at Rs 1,199 crore in the quarter ended 30 September 2023, up 33.82% from Rs 896 crore reported in the same period last year.

Net advances were at Rs 209,106 crore as on 30 September 2023, up 8.7% YoY. Total deposits stood at Rs 234,360 crore as on 30 September 2023, recording a growth of 18.3% YoY. CASA ratio stood to 29.4% as on 30 September 2023 as compared to 31% posted in the same period a year ago.

Average Liquidity coverage ratio (LCR) during the quarter remains healthy at 120.9%; LCR as on September 30, 2023 at 117.1%.

Yes Bank said that Resolution Momentum continues to be strong with Recoveries & Upgrades for Q2 FY24 at Rs 1,352 crore.

Prashant Kumar, managing director & CEO, Yes Bank said, “Amidst a challenging environment with respect to interest rates, deposit growth slowdown, as well as tightening liquidity, the Bank has managed to deliver Yo-Y expansion in both operating profitability and net profitability. At the same time, the fortification of Balance Sheet from Asset Quality standpoint continues, supported by robust redemptions from the Security Receipts.

During the quarter included the launch of our next gen mobile banking app ‘iris by YES BANK', setup of a dedicated Strategy & Transformation Office; and further strengthening of our Management Team through two key senior level appointments - Head of Wholesale Banking and Head of Strategy & Transformation.”

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.

Shares of Yes Bank gained 1.23% to close at Rs 17.28 on Friday, 20 October 2023.