The top executive of Yes Bank has said that keeping our problems behind, we are focusing on the growth of the bank. Let us tell you that the bank has seen good growth in the first quarter. Only after that this statement has come from the bank.
Bank’s Chief Executive Officer Prashant Kumar has said in an interview given to Bloomberg TV that we have dealt with our old problems in a better way. Going forward we will get to see continuous improvement on the business of the bank.
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The bank will carry on the legacy of its impressive profits achieved in the first quarter. Let us tell you that since the year 2018, Yes Bank has performed strongly in the first quarter of the financial year 2021-22. The performance of the bank has shown improvement due to increased fee income, recovery in loan and higher lending.
Yes Bank Q1: The bank had a profit of Rs 206.8 crore, the loss was estimated in the first quarter
Since March 2020, the condition of the bank had deteriorated significantly. After that RBI had dissolved the board of the bank. Then a group of banks was formed in March 2020 for the salvation of the bank. After this, the situation of Yes Bank is showing improvement.
In today’s trade, the shares of Yes Bank saw a rise of up to 4.7 percent in intra. In this conversation, Prashant said that due to increasing vaccination in India, the new wave of corona will not be as deadly. He also said that the business environment appeared to be improving after the first wave of Corona last year. Soon after that in April-May, the second wave of Corona caused the most damage in the country. The effect of which has been seen on recovery.
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In such circumstances, it becomes very difficult to maintain profit margins. He has also said that despite the possibility of further impact of Corona, the bank will aim to maintain the credit deposit ratio at 100 percent by the end of March.
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