Yes Bank full swing in their Interest

New Delhi January 20: Private sector lender Yes Bank s third-quarter earnings beat analysts expectations on Thursday, with profit rising 30.6 percent to Rs 882.6 crore compared to year-ago period. The growth was driven by strong net interest income, other income, and lower provisions. Net interest income, the difference between interest earned and interest expended, grew by 30.2 percent year-on-year to Rs 1,507 crore, with loan growth of 38.7 percent at Rs 1.17 lakh crore at the end of December 2016. "Yes Bank has delivered another quarter of satisfactory performance across key financial parameters of growth and profitability driven by expansion in NIMs to 3.5 percent, while maintaining healthy asset quality," Rana Kapoor, Managing Director & CEO said. According to analysts polled by media, profit was estimated at Rs 813 crore and net interest income at Rs 1,477.2 crore for the quarter. Gross non-performing assets as a percentage of gross advances were at 0.85 percent during the quarter, increased from 0.83 percent in the previous quarter and net NPAs were unchanged at 0.29 percent on the sequential basis.In absolute terms, gross NPAs increased 9.7 percent sequentially to Rs 1,006 crore and net NPA rose 6 percent to Rs 342.4 crore in the quarter ended December 2016. Kapoor said slippages in Q3 declined sharply at Rs 89 crore compared to Rs 301.5 crore in previous quarter.