Yes Bank, a private sector lender, on Wednesday reported a growth of 27.7% in its first quarter net profit. The bank earned a profit of Rs 5.51 billion for the quarter ended Jun. 30, 2015. Market was expecting profit to come at Rs 5.31 billion.
 
The bank's quarterly income totaled at Rs 37.97 billion, an increase of 22.75% over Rs 30.93 billion in the same period a year ago.

Net interest income (NII) for the quarter increased by 42.2% to Rs 10.59 billion on account of strong growth in advances and expansion in NIM to 3.3%. from 3.0% in Q1FY15.

Non interest income increased by 31.8% to Rs 5.45 billion in for the quarter on back of continued growth across all streams. Operating profit for the quarter increased by 43.7% to Rs 9.08 billion.

Rana Kapoor, managing director & CEO, YES BANK said, ''YES BANK has begun its 12th year of operations and has posted another satisfactory quarter of consistent results, which is reflected in strong loan growth, NIM expansion and continued resilience in asset quality. YES BANK has continued its uncompromising commitment towards quality, sustainability and innovation which is evident through multiple prestigious awards garnered by the Bank at international platforms across categories of Business Sustainability, Information Security and Cash Management.

Further, the RBI approval for setting up IFSC unit in GIFT city in Gujarat will significantly enhance YES BANK's International Banking product offerings for the BANK's corporate clientele while enabling long term Foreign Currency Fund raising for the Bank at competitive rates. Also, RBI‟s recent approval for the Bank to act as a Primary Dealer will further complete our product suite in becoming a complete Rupee Debt House.''

Shares of the company gained Rs 17.6, or 2.21%, to trade at Rs 812.25. The total volume of shares traded was 422,290 at the BSE (1.18 p.m., Wednesday).