Yes Bank Q1 net profit up 30% to Rs 12.6 billion, asset quality falls

The deposit and credit grew at 42 per cent and 53 per cent respectively in the full-year period

Private sector lender Yes Bank's first quarter net profit rose 30 per cent on the back of rise in interest and other income as asset quality fell.

The bank's net profit rose to Rs 12.6 billion in the quarter ended June, compared with Rs 9.65 billion in the year-ago quarter. The bank's net interest income, or the interest earned minus interest expended, rose 22 per cent on a year-on-year basis to Rs 22.19 billion.

The net interest margin (NIM), the difference between the yield on advances and cost of fund,  contracted to 3.3  per cent, against 3.4 in the previous