Private sector lender, Yes Bank, on Thursday appointed Ravneet Gill of Deutsche Bank India as managing director (MD) and chief executive officer (CEO) to succeed Rana Kapoor and said its net profit has declined seven percent to Rs 1,001 crore for the third quarter ended December 2018.

Gill will be taking over as CEO and MD from March 1, 2019.

The net profit of the company stood at Rs 1,076.87 crore in the corresponding quarter a year ago.

CNBC-TV18 Polls had predicted a profit of Rs 1,108 crore for the quarter under review.

The net interest income (difference between interest earned and expended) rose to Rs 2,666.4 crore up 41.2 percent YoY. In the year ago, the bank had posted NII of Rs 1,888 crore.

According to the filing, the bank's net interest income grew 41.2 percent YoY to Rs 2,666.4 crore. Its advances grew 42.2 percent YoY to Rs 2,43,885 crore.

Yes Bank's gross non-performing asset (NPA) increased to 2.1 percent of the total advances in the quarter, compared with 1.72 percent in the year-ago period. Net NPA also increased to 1.18 percent from 0.93 percent.

Exposure to Infrastructure Leasing & Financial Services (IL&FS) Group stood at Rs 2,530 crore, while total gross slippages was at Rs 2,297 crore.

Rana Kapoor, MD & CEO, Yes Bank said, "The bank has once again delivered satisfactory performance across income growth, margins, profitability and Capital accretion, despite the recognition and provision impact from a stressed Infrastructure conglomerate. Retail assets growth momentum continues, while growth in corporate business segments has been rebalanced after witnessing strong market share driven growth over the last few preceding quarters."

The employee strength of Yes Bank as on December 31, 2018 stood at 21,182, an increase of 158 employees in the quarter. As on December 31, 2018, branch network stood at 1,115 branches and ATM Network stood at 1,714 which includes 516 bunch note acceptors/cash recyclers.

Shares of Yes Bank on Thursday settled at Rs 213.85 apiece, up 8.39 percent on the BSE.

First Published:Jan 24, 2019 3:05 PM IST