Banks in the quarter ending March of the financial year 2021-22 Registered a net profit of Rs 367 crore.
Yes Bank on Saturday said it returned to full-year profitability in the financial year ended March 2022, registering a profit of Rs 1,066 crore during the year. The private sector lender had reported a net loss of Rs 3,462 crore in the previous financial year ended March 2021 and Rs 22,715 crore in FY20. FY22 is the first full-year profit since FY19, Yes Bank said in a regulatory filing.
The bank reported a net profit of Rs 367 crore for the quarter ended March 2021-22. There was a net loss of Rs 3,788 crore in the same quarter of the last financial year 2020-21. Comparing sequentially, net profit in the fourth quarter of FY12 grew by 38 per cent from Rs 266 crore. Total income during the January-March period of FY 2012 increased to Rs 5,829.22 crore from Rs 4,678.59 crore in the corresponding quarter of FY 2011. , The full year total income, however, stood at Rs 22,285.98 crore in 2021-22, up from Rs 23,053.53 crore in 2020-21.
Yes Bank said it saw strong growth in deposits and fine advances during the year and sanctions/disbursements across various segments stood at Rs 70,000 crore in 2021-22. On the asset quality front, the bank’s gross non-performing assets (NPAs) increased to 13.9 per cent of gross advances as on March 31, 2022, from 15.4 per cent a year ago. Net NPAs or bad loans declined from 5.9 per cent to 4.5 per cent.
Prashant Kumar, MD & CEO, Bank said: “This transformational journey at Yes Bank has resulted in sustained balance sheet growth, accelerated granularization, improving asset quality trends, enhanced liquidity and strong capital position over the past 2 years. have improved.” The core operating profitability of the franchise continues to improve, but the drag from old stressed assets has come down significantly, resulting in net profitability, he added.
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