<div><strong>By Arshad Khan</strong></div><div> </div><div>Yes Bank Ltd on Thursday (29 October) said net profit rose 26.5 per cent in the September quarter, thanks to higher net interest income (NII) and other income, and lower provisions for bad loans.</div><div> </div><div>Net profit stood at Rs 610.41 crore, compared with Rs 482.54 crore in the year-ago period. </div><div> </div><div>Analysts had expected net profit of Rs 596 crore on net interest income of Rs 1,099 crore for the quarter.</div><div> </div><div>“Yes Bank has delivered another consistent quarter of sustained financial performance reflected by healthy growth in net profit of 26.5 per cent and driven by steady increase in NII and stable asset quality,” Rana Kapoor, managing director and CEO of the bank, said in a press release.</div><div> </div><div>Other income, or income earned from fees, trading in foreign exchange and gain on revaluation or sale of investments, rose 22.25 per cent to Rs 618.10 crore from Rs 505.62 crore in the same period last year. </div><div> </div><div>However, net NPA (non-performing assets) grew 0.2 per cent to Rs 158.6 crore from 0.09 per cent in the same quarter a year ago. Asset quality of the bank still remained stable for the quarter. </div><div> </div><div>"The recent RBI approval for setting up AMC (Asset Management Company) operations and commencement of PD business will further deepen our value proposition for the company as well as retail customers," said Kapoor. </div><div> </div><div>"There has been no sale to ARC (Asset Reconstruction Company) during the previous four quarters. Also, the bank has not refinanced any loan through the 5/25 route," the bank said in a statement.</div><div> </div><div>Yes Bank said advances grew by 29 per cent Rs 80,015 crore and deposits increased by 24 per cent to Rs 99,344.3 crore compared to same quarter last year, adding net interest margin inched up 10 basis points to 3.3 per cent year-on-year but sequentially that remained flat.</div><div> </div><div>Corporate banking business accounted for 68.2 per cent of advances portfolio and the rest 31.8 per cent constituted by retail & business banking.</div><div> </div><div><div>The share price of the bank closed 1.95 per cent up at Rs 743.50. Sensex closed 0.75 per cent down at 26,838.</div></div>
