CEO says this is the third straight quarter when the bank reported profits.
Yes Bank on Friday reported consolidated net profit of ₹147 crore for the December quarter and a jump in asset quality stress due to COVID-19.
The bank had posted a loss of ₹18,564 crore a year earlier, when it recognised all the stress in the balance sheet. The lender had to be bailed out by a consortium led by SBI last March on troubles with the loan book. MD and CEO Prashant Kumar told reporters that this was the third straight quarter where the bank had shown a rise in profits. If the newly created stressed pool of restructuring and standstill NPAs were added to the reported gross NPAs of 15.36%, the stressed pool comes to 20%, which is higher than the year-earlier figures.
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