Yes Bank reports Q4 loss of Rs 1,507 crore on higher provisions

Private sector lender Yes Bank Friday reported a loss of Rs 1,506.64 crore for the fourth quarter ended March 2019 owing to rise in provisioning for bad loans.

The bank had recorded a net profit of Rs 1,179.44 crore on a standalone basis during the January-March period of 2017-18.

However, total income rose to Rs 8,388.38 crore as against Rs 7,163.95 crore in the same quarter of the previous fiscal, the bank said in a regulatory filing.

Interest income increased to Rs 7,856.54 crore as compared to Rs 5,742.98 crore earlier.

On the asset quality front, gross non-performing assets (NPAs) of the bank doubled to 3.22 per cent of the gross advances as on March 31, 2019, from 1.28 per cent at the end of 2017-18.

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