YES Bank profit jumps 34% ₹1,071 cr in June quarter
Business
YES Bank posted a solid 34% jump in profit for the June quarter, hitting ₹1,071 crore, up from ₹801 crore last year.
This boost came from more people parking their money with the bank and a rise in lending.
Net interest income also climbed 17% to ₹2,786 crore.
YES Bank secures S&P Global rating
The bank's bad loans dropped to ₹3,705 crore (down from ₹4,022 crore last year), and retail loan defaults hit their lowest level in over two years.
CEO Vinay M. Tonse pointed out strong performance in sectors like oil and metals.
Plus, YES Bank scored rating upgrades from Moody's, CARE Ratings, and ICRA, and also secured its inaugural international rating from S&P Global, meaning lower borrowing costs ahead.