The bank's total income jumped 14.20% YoY to Rs 9,341.15 crore in the quarter ended 31 December 2024.
Profit before tax surged 165.21% to Rs 820.34 crore in Q3 FY25 as against Rs 309.31 crore reported in the corresponding quarter last year.
Net Interest Income (NII) for Q3 FY25 stood at Rs 2,224 crore, registering a 10.2% year-on-year (YoY) growth. Meanwhile, the Net Interest Margin (NIM) remained stable at 2.4% in Q3 FY25 compared to the same quarter last year.
During the quarter, operating profit was at Rs 1,079.02 crore, up 24.87% from Rs 864.05 crore posted in the same period a year ago.
Provisions (other than tax) and contingencies dropped 53.36% YoY to Rs 258.68 crore for the quarter ended 31 December 2024.
In terms of asset quality, the bank's gross non-performing assets (NPAs) declined by 11.08% to Rs 3,963.47 crore as of 31 December 2024, compared to Rs 4,457.41 crore as of 31 December 2023. Additionally, net NPAs dropped by 40.93% to Rs 1,142.62 crore in Q3 FY25, down from Rs 1,934.36 crore in Q3 FY24.
The gross NPA ratio reduced to 1.6% as of 31 December 2024, compared to 2% as of 31 December 2023. Similarly, the net NPA ratio improved, falling to 0.5% as of 31 December 2024, down from 0.9% as of 31 December 2023.
The bank's total deposits grew by 14.6% YoY to Rs 2,77,224 crore in the quarter ended 31 December 2024. Additionally, the bank's total advances increased by 12.6% YoY to Rs 2,44,834 crore.
The bank's CASA (Current Account Savings Account) ratio stood at 33.1% as of 31 December 2024, compared to 29.7% in the corresponding quarter of the previous year.
Gross Slippages for Q3 FY25 stood at Rs 1,348 crore as against Rs 1,233 crore posted in corresponding quarter previous year.
The bank's average quarterly LCR (on a consolidated basis) during the quarter remains healthy at 133.2%.
During the quarter, Yes Bank's overdue book for the 31-90 day period stood at Rs 3,980 crore, compared to Rs 4,379 crore in Q3 FY24.
On nine-month basis, the company's net profit climbed 108.67% to Rs 1,667.74 crore on 15.67% increase in revenue to Rs 27,396.38 crore in 9M FY25 over 9M FY24.
Prashant Kumar, MD & CEO, Yes Bank, said, 'Q3FY25 is the fifth quarter in a row where the bank has demonstrated sustained sequential expansion in profitability. The RoA of the bank has also expanded to 0.6% from 0.5%, reported over the last 3 quarters. It is quite encouraging that we have also started seeing expansion in our operating profitability.
Two distinct trends which I think are important to highlight in terms of trajectory of the Bank's profitability going forward are, reduction in balances of deposits placed in lieu of PSL shortfalls to 8.5% of assets this quarter, from 10.4% of assets in Q2 FY25, and fresh slippages in the retail segment remaining flat on QoQ basis. Both of these are in line with our earlier guidance, and while one of the factors is likely to aid expansion in net interest margins and operating profits, the other may likely result in a reduction of gross credit costs.
Other key vectors of the bank continue to post encouraging trends in line with our strategic objectives. The deposits momentum sustained with around 15% Y-o-Y growth, wherein the average balances recorded a higher 15.7% YoY and 2.3% QoQ growth. Outperformance to industry continued on CASA acquisition, with CA and SA deposits growing 21.1% Y-o-Y and 33.3% YoY respectively and the average balances recording a similar growth. On the advances front, SME and mid-corporate segments maintained a 25%+ YoY growth trajectory, while strategic reorientation continued in the retail segment, aimed at profitability improvement. Q3FY25 was another strong quarter of fee income performance, aided by the granular and transactional fee streams. Asset quality also further improved, with (NNPA + net carrying value of SRs) now at 0.6%.'
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 slipped 1.24% to close at Rs 18.25 on Friday, 25 January 2025.
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