Friday, January 29, 2016

Yes Bank Q3 net profit up 25%, beats estimates

Yes Bank, India's fifth-biggest private sector lender by assets, reported a better-than-expected 25% increase in quarterly profit, and said it expected full-year credit costs to be at the lower end of its guidance range.

The bank said it saw credit costs at maximum 50 basis points for the fiscal year ending March, compared with its previous guidance of 50-70 basis points.

Net profit rose to Rs 676 crore ($100 million) for its fiscal third-quarter to December 31, beating analysts' estimate of Rs 628 crore on average.

Gross bad loans as a percentage of total loans rose to 0.66 % at end-December, from 0.61 % in the previous quarter.

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