1. Opening Hook
Just when everyone had written off YES Bank as the “turnaround that never ends,” Q3 FY26 quietly slapped the table with ₹952 crore of profit. No fireworks, no Bollywood climax—just boring, adult banking execution. Margins improved despite rate cuts, NPAs behaved themselves, and Retail finally stopped bleeding.
Management called it a “breakout quarter”—which in YES Bank language means “nothing broke this time.” And honestly, that itself is progress.
The real intrigue, though, isn’t the headline profit. It’s what’s hiding underneath: RIDF drag fading, Retail nearing relevance, and ROA flirting with 1% like it’s a long-term commitment.
Stick around. The good parts come later—along with the fine print management hopes you won’t overthink.
2. At a Glance
- Net Profit ₹952 Cr (+55% YoY) – Turnaround finally stopped using crutches.
- ROA at 0.9% (1% adjusted) – Management says “almost there,” investors say “show me.”
- NIM at 2.6% (+24 bps YoY) – RIDF rundown doing God’s work quietly.
- Cost-to-Income 66.1% – Still fat, but at least on a diet now.
- GNPA 1.5%, NNPA 0.3% – Asset quality behaving like it wants validation.
- Credit Growth 5.2% YoY – Profitable growth, or just selective procrastination?
3. Management’s Key Commentary
“Q3 was a breakout quarter with strong core operating performance.”
(Translation: Please forget the last eight quarters 😏)
“Adjusted profit is ₹1,068 crore with ROA at 1%.”
(Translation: One-time charges are now our favorite excuse.)
“Retail has breakeven this quarter.”
(Translation: Retail stopped burning cash… applause pending 🔥➡️🙂)
“We are deliberately not growing Home Loans, Car Loans, and Gold Loans.”
(Translation: Margins too thin, competition too ugly.)
“RIDF balances down from 11% to 6.9%.”
(Translation: Dead assets finally leaving the balance sheet.)
“SME growth among the best in the industry.”
(Translation: The one segment where YES Bank still has street cred.)
“We are targeting 1% ROA in FY27 and 1.5% in mid-term.”
(Translation: Please give us time. Again.)
4. Numbers Decoded
Metric | Q3 FY26 | Decoded Meaning
---------------------------|---------------|------------------------------
Net Profit | ₹952 Cr | Real profit, but aided by SRs
Adjusted Net Profit | ₹1,068 Cr | This is the number they want you to see
NIM | 2.6% | Structural improvement