Yes Bank’s standalone Q4 net profit up 30%

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Mumbai, April 19 (IANS) Private sector lender Yes Bank on Wednesday reported a rise of 30.2 per cent in its net profit for the fourth quarter (Q4) of 2016-17.

The company’s net profit rose to Rs 914.1 crore from Rs 702.1 crore reported for the corresponding quarter of 2015-16.

According to the company, its total net income for the quarter under review increased by 41.7 per cent to Rs 2,897.1 crore from Rs 2,044.2 crore earned during the fourth quarter of 2015-16.

The private lender’s net interest income (NII) during the fourth quarter stood at Rs 1,639.7 crore, up by 32.1 per cent from Rs 1,241.4 crore.

“NIM expanded to 3.6 per cent for Q4FY17 from 3.5 per cent in Q3FY17,” the company said in a statement.

Besides, the company reported an increase of 31.1 per cent in its standalone net profit for the entire financial year 2016-17 to Rs 3,330.1 crore from Rs 2,539.4 crore in 2015-16.

In addition, Yes Bank’s total net income for the financial year under review increased by 36.8 per cent to Rs 9,954.1 crore from Rs 7,278.9 crore earned during 2015-16.

The company pointed out that its Board of Directors has recommended a dividend of Rs 12 per share, which is subject to shareholders’ approval.

–IANS

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