- Yes Bank's Q3 standalone net profit rose 55.4% YoY to Rs 951.62 crore
- Net interest income increased 11% YoY to Rs 2,466 crore in December quarter
- Gross NPA improved to 1.5% from 1.6% QoQ; net NPA remained flat at 0.3%
Yes Bank Ltd. reported a strong performance in the December quarter, with standalone net profit rising 55.4% year-on-year to Rs 951.62 crore, compared with Rs 612.27 crore in the year-ago period.
Net interest income increased 11% YoY to Rs 2,466 crore from Rs 2,224 crore, supported by stable core operations and improvement in margins. Operating profit for the quarter rose 14.3% yearly to Rs 1,234 crore.
Asset quality remained steady. Gross NPA declined to 1.5%, improving from 1.6% in the previous quarter, while net NPA stayed flat sequentially at 0.3%. Provisions fell sharply, declining 91.5% annually to Rs 21.9 crore from Rs 259 crore a year earlier, aiding profitability.
Yes Bank Q3 Highlights (YoY)
- Profit up 55.4% at Rs 952 crore versus Rs 612 crore
- NII up 11% at Rs 2,466 crore versus Rs 2,224 crore
- Provisions down 91.5% at Rs 21.9 crore versus Rs 259 crore
- Net NPA flat at 0.3% (QoQ)
- Gross NPA at 1.5% versus 1.6% (QoQ)
Net interest margin improved to 2.6%, up 20 basis points YoY and 10 bps QoQ, driven by lower balances of deposits placed in lieu of PSL shortfalls and the impact of deposit repricing, which more than offset asset repricing pressures.
The bank's CASA ratio stood at 34% in Q3FY26, compared with 33.1% a year ago and 33.7% in the previous quarter.
Commenting on the results, Prashant Kumar, Managing Director and CEO of Yes Bank, said the December quarter marked a breakthrough period for the lender, led by acceleration in profitability, sharp improvement in asset quality, momentum in business volumes and continued strong CASA performance. He added that the bank's quarterly RoA (excluding gratuity impact) touched 1.0% for the first time since reconstruction, supported by higher NIMs, buoyant fee income and tight cost control.
Kumar said net credit costs for the quarter were negligible, aided by an eight-quarter low slippage ratio of 1.6% of advances and continued redemptions from the security receipts portfolio. Strengthening CASA ratios, despite a challenging industry environment, have helped improve the cost of deposits relative to peers.
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