Yes Bank To Declare Q1 Results On July 20

Yes Bank has scheduled a board meeting on July 20, to deliberate release its financial results for the first quarter ending June 30, 2024.

What Happened: The announcement was made public on Wednesday, July 3, 2024, through an exchange filing.

This announcement comes on the heels of a robust Q1 update that saw Yes Bank’s shares rise due to steady performance and improved asset quality. However, the bank’s sequential growth remained flat.

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The private lender reported a 15% year-on-year growth in loans and advances for the first quarter ended June, with loans reaching ₹2.29 lakh crore compared to ₹2 lakh crore in the same quarter last year.

Q4 Results: The private lender had reported a 123% year-on-year increase in net profit rising to ₹452 crore from ₹202.4 crore in the same quarter last year, significantly surpassing analysts’ expectations.

Net Interest Margins (NIM) held steady at 2.4% for the June quarter, consistent with the previous quarter. The bank experienced robust growth in non-interest income, with a 56.3% increase year-on-year and a 31.3% rise quarter-over-quarter, culminating in a 38.8% annual increase for FY24.

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