YES Bank Q2 net climbs 33%

Mumbai, Oct 20: YES Bank’s net profit increased 33 per cent to Rs 235 crore in the second quarter ended September 30, 2011 from Rs 176 crore in the corresponding quarter last year.

A strong growth of 23 per cent in net interest income and a huge increase of 63 per cent in non interest income helped the bank post good growth during the second quarter, said a press release from the bank.

Total advances rose 13 per cent to Rs 34,194 crore, while deposits rose 10 per cent to Rs 44,076 crore.

The huge growth in non interest income was on the back of strong growth in transaction banking, financial markets and financial advisory business that showed continued traction year-on-year and sequentially, said the press release.

Net interest margin was at 2.9 per cent.

For the six-month period ended September 30, 2011, the net profit increased 36 per cent to Rs 451 crore from Rs 333 crore in the year-ago period.

Shares of YES Bank fell 1.38 per cent to Rs 286, on the BSE, after the results were announced. The Sensex was down by 317 points.