Yes Bank Ltd. reported fourth quarter net revenue slid 45% year-on-year (YoY) to ₹202 crore on account of upper provisioning.
The financial institution reported net curiosity earnings (NII) of ₹2,105 crore, up 15.7% Y-o-Y.
For the monetary yr ended March 31, the financial institution reported net revenue of ₹717 crore in contrast with ₹1,066 crore within the year-earlier interval, down 32.7% once more on accelerated provisioning.
The NII in FY23 rose 21.8% to ₹7,918 crore. The net curiosity margin for Q4FY23 at 2.8% rose nearly 30 foundation factors Y-o-Y. FY23 NIM at 2.6% was additionally up 30 bps YoY.
In Q4, provision at ₹618 crore greater than doubled YoY led by accelerated provisioning, the financial institution stated in a submitting.
Total provision for FY23 at ₹2,220 crore was up 50% YoY. Net advances at ₹2,03,269 crore grew 12.3% YoY. Total deposits at ₹2,17,502 crore was up 10.3% YoY.
The financial institution stated it witnessed important enchancment in asset high quality throughout Q4. Gross Non Performing Asset (GNPA) ratio stood at 2.2% in contrast with 13.9% the year-earlier interval.
Net NPA ratio stood at 0.8% as in contrast with 4.5% within the year-earlier interval. The financial institution stated slippages have continued to pattern decrease to ₹4,775 crore in FY23 from ₹5,795 crore in FY22.
It stated decision momentum continued to be robust with complete recoveries and upgrades for FY23 at ₹6,120 crore, properly forward of steerage of ₹5,000 crore. In Q4FY23,money recoveries and upgrades stood at ₹1,733 crore.
