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Yes Bank Q3 Brings Cheer to Dalal Street

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Yes Bank Q3 Brings Cheer to Dalal Street
Yes Bank brought some cheer to the Dalal Street on a day when banking stocks came under heavy selling as ICICI Bank reported sharp rise in bad loans. 

Yes Bank's net profit in the December quarter jumped 25 per cent to Rs 676 crore against Rs 540 crore during the same quarter last year. Net interest income, the difference between interest earned over interest expended, came in at Rs 1,157 crore against Rs 909 crore year-on-year, Yes Bank said.

India's fifth-biggest private sector lender by assets said it expected full-year credit costs to be at the lower end of its guidance range.

The private sector lender's net interest margin - a key gauge of profitability - rose to 3.4 per cent in Q3 as compared to 3.2 per cent in the corresponding quarter last year.

Though Yes Bank reported a slight deterioration in asset quality, its numbers looked mild when compared to ICICI Bank. Yes Bank's gross non-performing assets, as a percentage of total advances, rose 0.66 per cent against 0.61 per cent in the previous quarter of current financial year.
Gaurang Shah of Geojit BNP Paribas told NDTV Profit that Yes Bank and IndusInd Bank showed consistent growth trajectory. 

Shares of Yes Bank ended 11.2 per cent higher at Rs 746.80.


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