New Delhi: Yes Bank of the private sector, which has been going through the crisis for the last few months, has presented shocking financial results for the January-March quarter. The bank made a surprise profit of Rs 2629 crore in this quarter, while Yes Bank had a loss of Rs 1507 crore in the same quarter last year.
Yes Bank got this profit from special income from write-off of additional Tier-1 bonds. That is, this profit of the bank is not due to better performance but due to the assistance provided under the relief scheme.
Gross NPAs at the bank ease from the previous quarter from18.87% to 1.87% in the quarter ended March. In a year ago period, the gross NPA at bank came in at just 3.22%.
Net NPAs at the bank for the period under review stood at 5.03% versus 1.86% in the year ago period.
Provisions also were higher at Rs. 4872 crore.
During the period after the bank was placed on moratorium on March 5, both the advances and deposits show a declining trend with deposits felling by 53.7% to Rs. 105364 crore, while advances also posted a decline of 29% to Rs. 171443 crore.
Last the stock of Yes Bank was quoting higher by 8.73% or Rs. 2.3 at Rs. 28.65 per share.
