Yes Bank, a private sector lender in India, reported a significant surge in its net profit for the third quarter of the financial year. The net profit rose by 350% year-on-year to INR 231 crore, driven by lower provisions and robust non-interest income. The bank’s net interest income increased both year-on-year and quarter-on-quarter, and non-interest income saw a 12% YoY growth. The provision costs were down 34.3% YoY, and the gross non-performing assets remained flat at 2%. Yes Bank’s loan book grew by 11.8% YoY to INR 2.18 lakh crore, and deposits reported a 13.2% growth.