Yes Bank Q4FY23 net profit down by 45% to Rs 202cr

Yes Bank has reported a net profit of INR 202 crores for the fourth quarter of the fiscal year 2023 (Q4FY23), which is a decrease of 44.9% compared to INR 367 crores in the same quarter of the previous fiscal year (Q4FY22).

In the previous quarter, that is Q3FY23, the Indian private sector bank had a net profit of INR 52 crores.

The basic earnings per share (EPS) for Q4FY23 was INR 0.07, which is a decrease of 52% compared to INR 0.15 in Q4FY22.

The total net income of Yes Bank in Q4FY23 ended 31 March 2023 was INR 3,188 crores, an increase of 18%, compared to INR 2,701 crores in Q4FY22. In Q3FY23, the bank’s total income stood at INR 3,114 crores.

For the fiscal year 2023 (FY2023), Yes Bank posted a net profit of INR 717 crores, compared to INR 1,066 crores in FY2022.

The total net income in FY2023 was INR 7,918 crores, which is an increase of 21.8%, compared to INR 6,498 crores in FY2022.

Yes Bank said that it added 83 new branches during FY2023 to take its branch count to 1,192, compared to 1,122 in FY2022.

Prashant Kumar — Yes Bank MD and CEO, commenting on Yes Bank Q4FY23 results, said: “Over the last three years, the Bank has significantly progressed on several strategic objectives such as strengthening of Governance and Compliance Standards, bolstering the Balance Sheet through granularity, addressing the asset quality concerns, building up a strong liability franchise and expanding the customer base.

“At the same time, with continuous focus on retail, we have continued to expand our footprints with new Branches, increased the employee headcount and stepped-up our investments in technology.”