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Nirmal Bang Report
Yes Bank Ltd.'s Q2 FY21 financial performance improved sequentially as net profit grew by approximately 185% (QoQ) on the back of expansion in net interest margin (approximately 10 basis points QoQ), better traction in non-interest revenue and opex control (down 4.5% QoQ).
Provisions for the quarter were mostly towards building the Covid-19 impact related buffer, which now stands at Rs 19.2 billion.
Given the Supreme Court ruling halting recognition of non-performing assets, gross non-performing assets (in absolute value terms) were largely unchanged at Rs 323.4 billion, forming 16.9% of the total advances.
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