Private sector lender Yes Bank on Thursday reported a 31.5 per cent jump in net profit at Rs 801.54 crore for the second quarter ended September 30, but provisions grew 55.6 per cent to Rs 161.7 crore. The bank had reported a profit of Rs 610.41 crore for same quarter of the previous financial year, it said in a regulatory filing.The bank beat consensus forecast for September quarter net profit, which stood at Rs 765 crore.Net interest income (NII) for the quarter increased 30.5 per cent year-on-year at Rs 1,446.2o crore on account of strong growth in advances and Casa deposits. Net interest margin (NIM) came in at 3.4 per cent for Q2 of FY17, up from 3.3 per cent in Q2 of FY16. Non-interest income increased 43.6 per cent year-on-year to Rs 887.9 crore in Q2 of FY17.Total net income increased 35.2 per cent year-on-year to Rs 2,334.0 crore in Q2 of FY17. Further, savings accounts deposits grew 53.6 per cent year-on-year to Rs 25,745.30 crore from Rs 16,764 crore as at September 30, 2015.Total advances grew 37.7 per cenr year-on-year to Rs 1,10,216.2 crore as at September 30, 2016.

Source: Economic Times October 20, 2016 07:08 UTC