Mumbai: Yes Bank reported a 29% rise in net profit in the fourth quarter ended march 2018 led by a strong 31% growth in net interest income. Net profit increased to Rs 1179 crore from Rs 914 crore reported a year earlier. It was also higher than a Bloomberg forecast which had estimated net profit at Rs 1085 crore.

Net interest income or the revenues earned by loans growth increased to Rs 2154 crore, led by a 54% growth in advances. The bank’s total advances book increased Rs 2.03 lakh crore led by strong growth in retail, SME and corporate loans.

Non interest income or fee income growth was a tad slower at 13% to Rs 1,421 crore.

Gross NPAs of the bank stood at 1.28% of total loans or Rs 2,627 crore, down from 1.52% of loans a year ago and 1.72% in the quarter ended December 2017. Total slippages into NPAs were at Rs 380 crore, the bank said.