Yes Bank's net profit for Q2 increased significantly to Rs 553 crore from Rs 225 crore in the same quarter last year. The bank's net interest income (NII) also saw a strong growth of 14.3% year-on-year to Rs 2,200 crore, indicating a positive performance in core lending operations.

Net interest margins improved to 2.4%, consistent with the previous quarter and up from 2.3% a year ago. Gross non-performing assets (GNPAs) slightly increased to Rs 3,889.43 crore from Rs 3,844.90 crore quarter-on-quarter. Non-interest income for the quarter was Rs 1,407 crore, representing 1.4% of average assets on an annualized basis.

Prashant Kumar, Managing Director and CEO, highlighted the bank's strategic focus on growth in the SME and Mid Corporate segments, as well as a measured approach to retail growth to enhance profitability. The bank also reported maintaining NIL priority sector lending shortfalls.