The troubled private sector’s Yes Bank Limited has made huge profits. Performing well in the financial year 2021-22, the bank has started making profits again with a profit of Rs 1,066 crore.
Giving information about its financial results to the stock exchanges, the bank said that it made a net profit of Rs 367 crore in the January-March 2022 quarter as against a loss of Rs 3,788 crore in the same period a year ago. The performance of the bank has also improved on a quarterly basis. It had a net profit of Rs 266 crore for the third quarter ended December 2021.
In this way, its profit in the fourth quarter has increased by 38 percent compared to the third quarter. The bank’s total income in the fourth quarter stood at Rs 5,829.22 crore as against Rs 4,678.59 crore in the January-March 2021 quarter.
Here is the status of income: However, the total income of Yes Bank stood at Rs 22,285.98 crore in the entire financial year, which is lower than Rs 23,053.54 crore in the financial year 2020-21. The bank said that in the financial year 2021-22, there was a strong growth in its deposits and advances. The bank’s share of bad loans also came down from 5.9 per cent to 4.5 per cent.
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Improvement in NPAs as well: The bank’s performance has also improved on the asset quality front. The bank’s gross non-performing assets (NPAs) accounted for 13.9 per cent of its gross advances at the end of March 2022 as compared to 15.4 per cent in the financial year 2020-21.