YES Bank Q2 results: YES Bank posts Rs 600 crore net loss in Q2; asset quality declines
YES Bank Q2 results: The bank's net interest income (NII), or the core income a bank earns by giving loans, declined 9.6 per cent to Rs 2,186 crore in Q2FY20 from Rs 2,418 crore in Q2FY19
- Nov 1, 2019,
- Updated Nov 1, 2019 6:23 PM IST
YES Bank Q2 results: Private lender YES Bank on Friday reported a net loss of Rs 600 crore for the second quarter ended September 30, 2019, impacted by one-time deferred tax adjustment of Rs 709 crore due to change in corporate tax rate regime. Excluding the one-time tax impact, adjusted profit after tax stood at Rs 109 crore, the bank said in an exchange filing.
"The Mumbai-headquartered bank had posted net profit of Rs 964.70 crore in the same quarter last year," YES Bank said in a filing to the Bombay Stock Exchange.
This was the second biggest loss posted by YES Bank since its listing in May 2005. The bank had posted its biggest loss of Rs 1,506.60 crore in March quarter this year.
The bank's net interest income (NII), or the core income a bank earns by giving loans, declined 9.6 per cent to Rs 2,186 crore in Q2FY20 from Rs 2,418 crore in Q2FY19. Net interest margin (NIM) for the quarter stood at 2.7 per cent.
The other income (non-interest income) decreased by 19.5 per cent to Rs 946 crore against Rs 1,473 crore in the year-ago period.
YES Bank Q2 results: Private lender YES Bank on Friday reported a net loss of Rs 600 crore for the second quarter ended September 30, 2019, impacted by one-time deferred tax adjustment of Rs 709 crore due to change in corporate tax rate regime. Excluding the one-time tax impact, adjusted profit after tax stood at Rs 109 crore, the bank said in an exchange filing.
"The Mumbai-headquartered bank had posted net profit of Rs 964.70 crore in the same quarter last year," YES Bank said in a filing to the Bombay Stock Exchange.
This was the second biggest loss posted by YES Bank since its listing in May 2005. The bank had posted its biggest loss of Rs 1,506.60 crore in March quarter this year.
The bank's net interest income (NII), or the core income a bank earns by giving loans, declined 9.6 per cent to Rs 2,186 crore in Q2FY20 from Rs 2,418 crore in Q2FY19. Net interest margin (NIM) for the quarter stood at 2.7 per cent.
The other income (non-interest income) decreased by 19.5 per cent to Rs 946 crore against Rs 1,473 crore in the year-ago period.