YES Bank has reported 21.4 per cent rise in net profit for its
third quarter ended December 31, 2013.
The private sector player reported a net profit of Rs 415.6 crore for the October-December period, against Rs 342.3 crore during the same period of 2012-13.
The
net interest income during the quarter under review rose by 13.3 per cent to Rs 665.4 crore compared to Rs 584.3 crore in the same quarter of previous financial year.
The total Q3 income of the bank increased to Rs 2,902 crore, from Rs 2,446.83 crore in the year-ago period. However, the net interest margin, a key gauge of profitability, declined to 2.9 per cent from 3 per cent in the third quarter of the corresponding period previous year.
YES Bank has recently received approval from the UAE central bank to set up a representative office in Abu Dhabi, which will be the bank's maiden international beginning.
Shares of the private bank
were trading 1.98 per cent higher on the Bombay Stock Exchange in late afternoon trade.
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