YES Bank reported a drop in net profit in its Q4 FY23 from 367.46 crore to 202.43 crores, a near about 45 per cent fall year-on-year (YoY), on Saturday.
However, on a quarterly (QoQ) basis, YES Bank reported a 293 percent increase over its Q3FY23 net profit of 51.52 crore. YES Bank blamed growing provisioning for the drop in net profit, saying that it had managed to post full-year profitability for the second year in a row despite rising provisioning.
YES Bank reported an increase in total income, reporting total income of 7,298.51 crore in the fourth quarter of the just ended fiscal, up from 5,829.22 crore in the same time the previous fiscal year.
YES Bank reported a 19.46 percent increase in total income in FY23, with Q4FY23 total income of 26,624.08 crore, up from 22,285.98 crore in FY22.
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YES Bank’s net interest income (NII) was 2,105 crore in Q4FY23, representing a YoY increase of 15.70 per cent and a Q0Q increase of 6.80 per cent. YES Bank’s net interest income in FY23 was 7,918 crore, a 21.80 per cent increase over its net interest income in FY22.
YES Bank also reported an increase in standalone assets in FY23. YES Bank’s total assets stood at 3,54,786.13 crore in FY 2022-23, up 11.49 percent from its total assets of 3,18,220.23 crore in FY22.
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