Yes Bank posted its earnings for the quarter ended June on Saturday afternoon.

What Happened: The private lender’s net profit for the quarter came in at ₹502.43 crore, up 46% from the ₹342.5 crore, posted in the same quarter of the previous year. The number was above Bloomberg’s estimate of around ₹376 crore.

Net interest income — the difference between a bank's income from lending activities and interest paid to depositors — came in at ₹2,244 crore, a 12% increase from the ₹1,999 crore posted in the same quarter last year.

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Yes Bank also reported an improvement in its asset quality metrics for the April-June quarter. The gross non-performing assets (NPA) stood at ₹3,845 crore, down from ₹3,982.6 crore in the March quarter. Net NPA also decreased to ₹1,246 crore from ₹1,330 crore. The gross NPA ratio remained stable at 1.7%, while the Net NPA ratio improved slightly to 0.5% from 0.6% quarter-on-quarter.

On Friday, rating agency ICRA upgraded the private lender’s credit rating. The rating agency said that the upgrade was on the back of the bank's consistent operational growth and a decrease in stressed assets.

Earlier in July, Moody’s Ratings raised its outlook on the bank from stable to positive, indicating expected gradual improvements in the bank’s performance.

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