YES Bank FY21 loss contracts to Rs 3,462 crore as operating profit grows

Private sector lender YES Bank saw its net loss come down to Rs 3,462 crore in the financial year ended March 31, 2021. The bank had reported a net loss of Rs 22,715 crore in the previous financial year.

Net interest income (NII), the difference between interest earned and interest expended, increased 9.2 per cent during FY21 to Rs 7,429 crore from Rs 6,805 crore in FY20. However, non-interest income declined 2.9 per cent to 3,341 crore in FY21 from Rs 3,441 crore in FY20. Total net income increased to Rs 10,769 crore in FY21 from Rs 10,247 crore in FY20, an increase of 5.1 per cent.

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Operating profit during the fiscal under review increased 41.5 per cent to Rs 4,977 crore from Rs 3,518 crore in the previous fiscal. Meanwhile, provisions came down 70.4 per cent to Rs 9,712 crore from Rs 32,758 crore.

YES Bank said it has made provisions to the tune of Rs 250 crore towards COVID-19-realted restructuring, which is expected to be implemented in Q1 FY22.

In March quarter of FY21, YES Bank recorded a decline in its net loss at Rs 3,788 crore from a loss of Rs 3,668 crore in the corresponding quarter of the previous fiscal. The lender had posted a profit of Rs 151 crore in the December quarter of FY21.

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NII during the last quarter of FY21 decreased to Rs 987 crore from Rs 1,274 crore in the March quarter of FY20, a decline of 22.5 per cent. Non-interest income increased 36.6 per cent to Rs 816 crore year-on-year (YoY) in Q4 FY21 from Rs 597 crore in Q4 FY20. Operating profit for Q4 FY21 stood at Rs 185 crore, 73.8 per cent higher than Rs 106 crore in Q4 FY20.

Gross NPA ratio and net NPA ration as of March 31, 2021 stood at 15.41 per cent and 5.88 per cent, respectively. On March 31, 2020, the ratios were recorded at 16.8 per cent and 5.03 per cent, respectively.

Capital Adequacy Ratio as of March 31, 2021 stood at 17.5 per cent as compared to 8.5 per cent on March 31, 2021. Advances declined 2.7 per cent YoY to Rs 1.67 lakh crore by Q4 FY21 from Rs 1.71 lakh crore by Q4 FY20. Deposits grew 54.7 per cent to Rs 1.63 lakh crore in Q4 FY21 from Rs 1.05 lakh crore in Q4 FY20.

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