MUMBAI, Jan 21 (Reuters) – India’s Yes Bank (YESB.NS) reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased.Net profit fell to 515.20 million rupees ($6.36 million) for the three-months ending December 31, from 2.66 billion rupees in the year-earlier period. Analysts had expected profit to rise to 3.36 billion rupees, according to Refinitiv IBES data.The net interest margin, a key indicator of a bank’s profitability, rose 10 basis points in the third quarter to 2.5%.The bank’s asset quality improved as gross non-performing assets declined to 2.02% of total loans, from 12.89% in the previous quarter. Net non-performing assets declined to 1.03% …
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