Yes Bank Q3 Results: Net profit jumps 164.5% YoY to ₹612 crore, NII increases 10%

Yes Bank Q3 Results

Yes Bank announced its third quarter results for December 2024, showing a significant 164.5% year-on-year (YoY) increase in profit after tax (PAT) to ₹612.27 crore. Net interest income (NII) also grew 10.2% year-on-year to ₹2,224 crore, while net interest margin (NIM) remained stable at 2.4% on both a year-on-year and quarter-on-quarter basis.

The bank’s interest income stood at ₹7,829.13 crore, a growth of 12% year-on-year, while interest expense grew 12.8% to ₹5,605.62 crore from ₹4,967.96 crore in the same period last year.

Prashant Kumar, Managing Director and CEO, Yes Bank, said, “Q3FY25 marks the fifth consecutive quarter of sequential profitability growth. The Bank’s Return on Assets (ROA) improved to 0.6% from 0.5% in the previous three quarters. It is also encouraging to see improvement in our operating profitability.”

While operating expenses increased by 13.2% over the previous quarter and 0.9% over the previous quarter, the Bank’s cost-to-income ratio improved for the second consecutive quarter, declining to 71.1% from 73.1% in Q3FY24 and 73.0% in Q2FY25. This reflects the Bank’s efforts to enhance efficiency and manage costs effectively.

Kumar said, “Two important trends impacting our profitability include reduction in deposit balances to meet PSL shortfall, which is now 8.5% of assets, down from 10.4% in Q2FY25, and stable fresh slippage in the retail segment. These trends could potentially improve our net interest margin and operating profits while reducing gross credit cost.”

Yes Bank Q3 Results – Asset quality

The bank saw continued improvement in asset quality metrics. The gross non-performing asset (GNPA) ratio declined to 1.6% in Q3 FY25 from 2% in Q3 FY24, remaining stable on a sequential quarter-on-quarter basis. The net non-performing asset (NNPA) ratio also improved, declining from 0.9% in Q3 FY24 to 0.5% in Q3 FY25 and remained consistent with the previous quarter (Q2 FY25).

The CASA ratio increased to 33.1% in Q3 FY25 from 29.7% in the same quarter of the previous fiscal.

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