New Delhi, Jul 20 (Reporter) Private sector YES Bank has reported 46.7 per cent jump in net profit at Rs 502 crore in the Q1 of current fiscal 2024-25 compared to Rs 343 crore in the same quarter during previous financial year i.e., 2023-24. Commenting on the results and financial performance, Prashant Kumar, Managing Director & CEO, YES Bank said, “The Bank has started the financial year on a strong footing with Return on Asset ( RoA) sustaining Q-o-Q at 0.5 per cent despite seasonality of Q1 and NIL Priority Sector Lending (PSL) shortfalls.” Net Interest Income (NII) stood at Rs 2,244 crore for Q1FY25 up 12.2 per cent Y-o-Y basis, the bank said in the financial performance. While the non Interest Income also increased by over 5 per cent to Rs 1199 crore from 1141 crore during the period under consideration. Gross Non Performing Asset (GNPA) ratio improved to 1.7 per cent as of June 30, 2024 vs 2.0 per cent at Q1FY24. While the Net NPA (NNPA) ratio improved to 0.5 per cent as against 1.0 per cent at Q1FY24, the bank said. While the Income Engines are continuing to fire with normalised Net Income Growth at 15 per cent Y-o-Y, the Bank has been able to contain the Operating Cost growth at 8.0 per cent Y-o-Y (ex-PSLCs). At the same time, the resolution momentum continues to be strong, leading to lower Net Credit Costs, which is also aiding in RoA expansion, the Bank said in a release. On the Balance Sheet front, the Bank is effectively executing its strategic objectives of sustained momentum in SME and Mid- Corporate segments, resumption of growth in Corporate segment and calibration in Retail Assets with focus on profitability. Similarly, the Retail and Branch Banking led Deposits continue to grow at faster pace than Wholesale Deposits, Prashant Kumar added. Other key highlights of the quarter were i) exercise of outstanding Warrants by the Private Equity Investors, and ii) Credit Rating Outlook upgrade by Moody’s and Credit Rating upgrade by ICRA- these external stakeholder validations reinforce faith & confidence in the growth and profitability expansion trajectory of the franchise, he said...////...