Yes Bank Q3 profit, NII jump 30%; loan growth strong at 39%
Yes Bank's third quarter earnings beat analysts' expectations on Thursday, with profit rising 30.6 percent to Rs 882.6 crore compared to year-ago period. The growth was driven by strong net interest income, other income and lower provisions.
Net interest income, the difference between interest earned and interest expended, grew by 30.2 percent year-on-year to Rs 1,507 crore, with loan growth of 38.7 percent at Rs 1.17 lakh crore at the end of December 2016.
Equity Tips- Profit was estimated at Rs 813 crore and net interest income at Rs 1,477.2 crore for the quarter.
Other income or non-interest income surged 33.8 percent year-on-year to Rs 998.35 crore and operating profit jumped 26.46 percent to Rs 1,453.8 crore in the quarter ended December 2016.
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