Yes Bank shows good quarterly results
Yes Bank, on Tuesday reported a profit of Rs. 140.03 crore for the fourth quarter of last fiscal. This is an increase of 74.79 per cent over the previous figure.
The total income of the private sector lender rose to Rs. 824.74 crore for the above mentioned period as against Rs. 656.07 crore for the previous figure.
For the whole year, the bank saw its total income go up from Rs. 2,438.34 crore for the previous fiscal to become Rs 2,945.24 crore.
The results were announced by Yes Bank in a filing that it sent to the BSE.
Talking about the results, Rana Kapoor, the MD and CEO of Yes Bank said that the bank has shown such good performance because of rise in net interest income and also a good increase in credit growth. The credit alone has increased by 78.9 per cent.
He further added that the bank has built up largely on its branch banking and corporate banking. It has focused greatly on the knowledge banking and relationship management competencies.
Yes Bank has also declared a dividend of 15 per cent or Rs. 1.50 per share for the year ending March 31, 2010.