YES Bank Q3 net profit surges 77% to Rs 266 cr on lower provisions

However, the bank has lowered the guidance for credit growth in FY22 to 10% from an earlier estimate of 15%

Private sector lender YES Bank’s net profit rose by 77 per cent at Rs 266 crore for the third quarter ended December 2021 (Q3FY22) predominantly on reduction in provisions.

The net profit was Rs 151 crore in Q3FY21. Sequentially, net profit rose by 18.2 per cent to Rs 225 crore in the second quarter ended September 2021 (Q2FY22).

Net interest income (NII) declined by 31.1 per cent to Rs 1,764 crore in Q3FY22 as against Rs 2,560 crore for Q3FY21, the lender said in a stock exchange filing on Saturday. Sequentially, NII grew by 16.6 per cent from Rs 1,512 crore in