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Post aggravated recognition/provisioning in Q4 FY21, YES Bank Ltd. reported profit after tax of Rs 2.07 billion in Q1 FY22 (versus loss of Rs 37.9 billion in Q4 FY21).
Net interest margin normalisation, treasury gains (Rs 3 billion) and recoveries from written-off accounts (Rs 2.5 billion) supported Yes Bank’s earnings.
What encouraged in Q1 FY22:
1. slippages (at more than 5%) were more than offset by upgrades, recoveries and write-offs;
2. gross non performing assets remained stable and credit cost was contained at 1.6%;
3. retail/small and medium enterprise mix improved 200 basis points q-o-q to 53%;
4. current account and savings account improved 130bps to 27.4%.
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