Yes Bank net up 19% at Rs 126 cr

MUMBAI: Private sector lender Yes Bank today said that its net profit rose by 19 per cent to Rs 125.9 crore during the quarter-ended December as against Rs 105.8 crore a year ago.

Owing to a spurt in net interest income, the difference between interest earnings and interest payments, the bank reported a 7.9 per cent rise in total income at Rs 338.7 crore.

While net interest income rose by 69.5 per cent increase to Rs 210.9 crore, there was a 32.5 per cent decline in non-interest income, which fell to Rs 127.8 crore.

The bank’s net interest margin went up to 3.1 per cent at the end of the third quarter of the current financial year, compared to 2.8 per cent at the end of December 2009.

Total advances grew by 71.1 per cent to Rs 18,710.4 crore from Rs 10,934.9 crore as at the end of December, 2008. Similarly, the bank’s total deposits grew by 62.8 per cent to Rs 22,038.6 crore.