RBL Bank Q2 profit rises 36%

Private sector RBL Bank Tuesday reported a 36% rise in its September quarter profit to Rs 204.54 crore backed by rise in interest income.

The bank had earned a net profit of Rs 150.62 crore in the same quarter a year ago. Its core net interest income rose 41% to Rs 592.97 crore, while the non-interest income was up 38% Rs 333.11 crore.

On assets quality front, it reported a marginal decline in the gross non-performing assets (NPA) at 1.40% from the 1.44% in the year-ago period. Even the net NPA improved to 0.74% as against 0.78% at the September-end 2017.

The bank’s growth in advances portfolio rose by a 37% on year-on-year basis, RBL Bank said in a statement. “The net advances as at 30 September 2018 were Rs 45,872.66 crore as against Rs 33,576.01 on 30 September 2017, with all-round growth observed in all business segments,” it said.

The net interest margin of the bank expanded to 4.08% from the 3.74% in the year-ago period, it said. The capital adequacy ratio on 30 September 2018 was 13.12% and Tier-1 capital adequacy ratio was 11.84%, significantly higher than the regulatory requirements, it said.