Yes Bank Q4 Results Highlights: Indian private lender Yes Bank reported a significant 123% year-on-year growth in net profit for the fourth quarter (Q4) of FY24,increased to ₹452 crore from ₹202.4 crore in the same quarter last year, well above analysts’ expectations. Sequentially, profits increased 95.2% from the previous quarter, according to the earnings report dated April 27, 2024.
Net interest margin (NIM) remained stable at 2.4% for Q4FY24, in line with the previous quarter. The bank experienced strong growth in non-interest income, With a growth of 56.3% year-on-year and 31.3% quarter-on-quarter growth in Q4FY24, Resulting in 38.8% year-on-year growth for FY24.
CEO said ; The bank’s return on assets (ROA) increased to 0.5 per cent in Q4FY24 from 0.2 per cent in both the previous quarter and the same quarter last year. This reflects the Bank’s operative strategic ambition to enhance asset utilization and profitability. Net interest income for the quarter enlarged 6.8 per cent quarter- on- quarter and 2.3 per cent time- on- time to ₹ 2,153 crore. Also, non-interest income raised56.3 per cent time- on- time to ₹ 1,569 crore, run by diversified and developed fee streams.
The bank’s asset quality improved significantly, with the gross non-performing assets (GNPA) ratio falling to 1.7% and the NNPA ratio falling to 0.6%. Provision coverage ratio remained strong at 79.3%.
Kumar said the bank would expect 18.5% growth in deposits and 17% growth in loan books. This credit growth will be driven by the micro, small and medium enterprises and mid-market segment. The large corporate loan book has also started growing.
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