Leading Private-sector lender Yes Bank has announced its financial results for the first quarter of the fiscal year 2010. As per the report, there has been a striking net profit rise for the bank in this period of time.

Yes Bank has posted a net profit of Rs 156 crore for the quarter that ended in 30th June, 2010 as compared to Rs 100 crore of the like periods of the previous quarter.

This net profit figure has grown up by 56% in this quarter under review against the corresponding quarter in the last fiscal.

According to the top officials of the bank, the higher credit growth has pushed up the interest income of the bank and has helped to produce to such a significant profit rise.

Moreover, it has managed to beat the estimated figure. Earlier it has been estimated that the bank may post a net profit of Rs 144 crore.

The loan growth of the bank is reported to be to Rs 26,250 crore which is two fold of the previous year's record.