Aided by a strong growth in interest income, private sector Yes Bank has posted a 27.4 per cent rise in net profit at Rs 702.1 crore for the fourth quarter ended March 2016 as against Rs 551 crore in the same period of last year.
Net interest income (NII) increased by 27.1 per cent Rs 1,241.4 crore from Rs 977.1 crore in the Q4 of last year on account of strong growth in advances and retail and CASA deposits. Net interest margin (NIM) was at 3.4 per cent. Rana Kapoor, managing director & CEO, said, “the bank has delivered another quarter of highly favourable financial performance across all the key parameters of growth, profitability and asset quality.
Overall FY16, despite challenging headwinds, has proved to be extremely satisfactory for the bank.” The net profit for the fiscal 2015-16 was Rs 2,539.4 crore, a rise of 26.6 per cent.