PRIVATE SECTOR LENDER YES Bank on Saturday reported over 4X year-onyear rise in its net profit for the quarter ended December at 231 crore.
The profit after tax for Q3FY24, however, was lower than a Bloomberg consensus estimate of 367 crore.
In contrast to the industry trends, the bank registered higher deposit growth than credit during Q3.
lender's overall The deposits rose 13% year-onyear to 2.41 trillion as of December 31.
Low-cost current account and savings accounts (CASA) constituted 29.7% of the overall deposit book.
Overall credit, meanwhile, grew 12% year-on-year to 2.17 trillion during Q3.
Retail advances accounted for 1.03 trillion of the overall loans, whereas corporate loans constituted 50,032 crore.
Prashant Kumar, the bank' MD & CEO, said in a post earnings conference that the banking industry continues to face challenges on deposit mobilisation and going ahead the bank's strategy would be to grow granular deposits instead of certificate of deposits (CDs).
هذه القصة مأخوذة من طبعة January 28, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 28, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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