January 18, 2018 / 9:51 AM / a month 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.

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)

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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)

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

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