Yes Bank on Saturday reported 18.3 per cent rise in its September quarter net profit at Rs 654 crore on non-core income growth.
The private sector lender had reported a net profit of Rs 553 crore in the year-ago period.
The core net interest income rose 4.6 per cent on the back of 6.4 per cent growth in its loanbook and a 0.10 per cent expansion in the net interest margin.
Managing director and chief executive Prashant Kumar said the bank will be aiming to accelerate the credit growth to 10 per cent for the fiscal. He added that the worst is over for the NIMs and the same will go up from here on.
The other income for the bank rose by 16.9 per cent to Rs 1,644 crore during the quarter.
The deposit growth came at 6.9 per cent in the July-September period.
The operating expenses increased by just 0.6 per cent on-year to Rs 2,649 crore, and a senior official explained that it used levers like focus on more productivity, decreasing the reliance on direct sales agents to distribute ..