India's Yes Bank reports 34% jump in profit on higher loan growth
- The lender posted a net profit of 10.7 billion Indian rupees for the three months ended June 30
BENGALURU: India’s Yes Bank reported 34% jump in first-quarter profit on Saturday, helped by strong loan growth.
The lender posted a net profit of 10.7 billion rupees ($111.13 million) for the three months ended June 30, up from 8 billion rupees a year earlier.
Credit growth in India extended its momentum into the first quarter of fiscal year 2027 after accelerating in the second half of the previous fiscal year, helped by rising corporate borrowing and resilient demand for personal loans, loans against gold and credit from small businesses.
Yes Bank’s net interest income rose 17.5% to 27.9 billion rupees, aided by an 18.3% rise in loans. Its deposits grew 14.3% during the reported quarter.
India’s Yes Bank post higher profit on loan growth
Net interest margin, a key measure of the bank’s profitability, stood at 2.7%, compared to 2.5% a year earlier.
Asset quality remained stable, with gross bad loans as a percentage of total loans at 1.3% at the end of June.
Funds kept aside for potential bad loans and other losses rose 110% sequentially to 3.9 billion rupees.
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