Yes Bank reported better than expected earnings for the second quarter of fiscal 2021 on account of improvement in net interest margins (NIMs) and reduction in operating expenses. Speaking to CNBC-TV18, Prashant Kumar, MD and CEO of Yes Bank said that the second half of this fiscal would be much better.

“If we don’t have any negative surprise from the pandemic, our second half would be much better,” Kumar said adding that the bank was seeing better demand from the market in terms of credit.

The bank has been able to bring in large number of new customers.

“We have opened almost 60,000 new accounts on the current account/savings account (CASA) side during September and we are targeting to take it to 1 lakh new customers adding to bank every month and we are going to achieve this by December or January,” he said.

Speaking about repayment of loans, he said 5.5 percent of loans amounting up to Rs 9,000 crore are yet to make repayment. “We have disclosed the entire overdue book, which is overdue for more than 30 days. That is something around Rs 9,000 crore which is 5.5 percent of our loan book,” he said.

First Published:Oct 26, 2020 12:38 PM IST