Yes Bank's Q2 FY27 profit jumps 65% to ₹1,080cr
What's the story
Private sector lender Yes Bank has reported a massive 65% year-on-year jump in its standalone net profit for the second quarter of FY27. The bank's net profit surged to ₹1,080 crore during the period under review, up from ₹654 crore in the same quarter last year. The growth was primarily driven by higher net interest income and lower provisions.
Sequential growth
Profit surges by nearly 48% in H1 FY27
The bank's net profit also witnessed a sequential growth of 0.8% over the previous quarter (Q1 FY27), when it stood at ₹1,071 crore.
For the first half of FY27, the profit surged by a whopping 47.8% to ₹2,151 crore from ₹1,456 crore in the same period last year.
This shows a consistent upward trend in Yes Bank's financial performance over recent months.
Financial growth
NII jumped by over 22% YoY
Yes Bank's net interest income (NII) also witnessed a significant jump of 22.7% year-on-year to ₹2,822 crore from ₹2,301 crore.
The bank's interest income rose by 17.1% to ₹8,640 crore during the same period.
Interest on advances grew by 17.2% to ₹6,600 crore while interest expenses increased by a lesser margin of 14.6%, amounting to ₹5,817 crore in Q2 FY27.
Profit analysis
Operating profit before provisions soars by nearly 30%
The operating profit before provisions and contingencies for Yes Bank increased by a whopping 29.4% to ₹1,678 crore in Q2 FY27.
However, the bank's provisions and contingencies fell by 24.2% year-on-year to ₹317 crore from ₹419 crore last year.
This decline in provisions indicates an improvement in asset quality and risk management practices at the bank during this period.