yes bank The net profit of has been Rs 231 crore in the third quarter of the current financial year (October-December, 2023). The bank gave this information on Saturday. The net profit of Mumbai’s private sector bank in the same quarter of the last financial year was Rs 52 crore. In this way, there has been a jump of about 6 times in the profit of the bank as compared to the same period last year. Market experts say that the bank’s shares may register a good rise in the coming days. The share price may reach Rs 26 to Rs 30 in the short term. However, new investors should also maintain stop loss.
Net interest income rises to Rs 1,971 crore
The bank’s net profit stood at Rs 225 crore in the July-September 2023 quarter. The bank said in a statement that its net interest income increased by 2.3 percent to Rs 1,971 crore due to 11.8 percent growth in loans and 0.10 percent decline in net interest margin to 2.4 percent in the quarter under review. The bank’s non-interest income rose 12.1 percent to Rs 1,195 crore. The bank said total net income rose 5.8 per cent to Rs 3,211 crore in the third quarter of the current financial year from Rs 3,036 crore in the same period a year ago.
Recovered assets worth Rs 3,800 crore
On the asset quality front, the latest drawdown was Rs 1,200 crore, of which over Rs 1,000 crore came from the retail sector alone. The bank has already recovered assets worth Rs 3,800 crore in the first nine months of the current financial year and is confident of surpassing its target of Rs 5,000 crore for the current financial year. The gross non-performing assets (NPA) ratio was stable at two per cent.
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