January 18, 2018 / 9:51 AM / 7 months ago

Yes Bank third-quarter profit rises 22 percent

(Reuters) - Indian private sector lender Yes Bank Ltd reported a 22 percent rise in third-quarter net profit, slightly above analysts’ estimates.

The logo of Yes Bank is pictured on the facade of its headquarters in Mumbai, India January 17, 2018. Picture taken January 17, 2018. REUTERS/Danish Siddiqui

Net profit rose to 10.77 billion rupees ($168.86 million) in the quarter ended Dec. 31 from 8.83 billion rupees a year earlier, the country's fifth-largest private bank by assets said on Thursday. (bit.ly/2ri8vgP)

Analysts on average had expected a net profit of 10.75 billion rupees, Thomson Reuters data showed.

Gross bad loans as a percentage of total loans stood at 1.72 percent at end-December, compared with 1.82 percent in the previous quarter and 0.85 percent a year earlier.

Net interest income rose 26.8 percent to 18.89 billion rupees while the net interest margin stood at 3.5 percent.

($1 = 63.7800 Indian rupees)

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Reporting by Krishna V Kurup in Bengaluru; Editing by Vyas Mohan

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