YES Bank Shows Impressive Quarterly Growth
YES Bank has made significant strides in its financial performance for the third quarter ending December 2024. The bank reported a remarkable increase in net profit, which rose by 2.6 times compared to the same quarter last year, reaching Rs 612 crore. This impressive growth can largely be attributed to a reduction in provisions for bad loans. Additionally, the bank’s net interest income (NII) saw a solid increase of 10.2%, climbing to Rs 2,224 crore, showcasing its ability to manage interest income effectively.
Strong Revenue Growth for YES Bank
In terms of overall income, YES Bank experienced a boost, with total income rising from Rs 8,179 crore to Rs 9,341 crore. Interest income also climbed significantly, going from Rs 6,984 crore to Rs 7,829 crore. The bank maintained a stable net interest margin (NIM) at 2.4%, which is a positive sign for its operational efficiency. On the asset quality front, the bank improved its GDP ratio, reducing it from 2% to 1.6%, and the pure NPA ratio improved from 0.9% to 0.5%. Furthermore, the total provision for bad loans was cut down from Rs 555 crore to Rs 259 crore, reflecting better risk management.
ICICI Bank Continues to Thrive
Meanwhile, ICICI Bank, the country’s second-largest private bank, also reported strong results for the third quarter. The bank’s net profit reached Rs 11,792 crore, marking a 15% increase year-on-year. Its net interest income (NII) rose by 9.1%, totaling Rs 20,370.6 crore. ICICI Bank’s total income increased from Rs 42,792 crore to Rs 48,368 crore, with interest income standing at Rs 41,300 crore. However, the bank’s net interest margin (NIM) saw a slight decrease, from 4.43% to 4.25%.
On the asset quality side, ICICI Bank improved its GDP ratio, which decreased from 2.3% to 1.96%, while the pure NPA ratio slightly declined from 0.44% to 0.42%. The total provision for bad loans increased from Rs 1,049 crore to Rs 1,227 crore, reflecting a proactive approach to managing potential risks. Overall, both banks are demonstrating strong performances and improving their financial health, which is encouraging for investors and stakeholders alike.
