RBL Bank's net interest income (NII) rose 6 per cent to Rs 1027.1 crore in the quarter under review as against Rs 969.5 crore in the same period last fiscal.
RBL Bank bounced back in profit as the lender posted a consolidated net profit of Rs 201 crore for the quarter ended 30 June, 2022. The bank had posted a net loss of Rs 459 crore in the year-ago period.
RBL Bank's net interest income (NII) rose 6 per cent to Rs 1027.1 crore in the quarter under review as against Rs 969.5 crore in the same period last fiscal. Its net interest margin (NIM) stood at 4.36 per cent.
The bank's interest earned rose slightly over 3 per cent to Rs 2,089 crore in Q1FY23 n comparison with Rs 2,026 crore in Q1FY22.
Its June quarter provisions and contingencies came in at Rs 253 crore as against Rs 1,384 crore in the same quarter last fiscal.
Furthermore, on the asset quality front, RBL Bank's gross NPA stood at 4.08 per cent in this quarter as against 4.4 per cent in the previous quarter, while net NPA stood at 1.16 per cent versus 1.34 per cent in the previous quarter.
As of 30th June 2022, the Bank has 502 bank branches and 1,302 business correspondent branches, of which 289 are banking outlets. RBL Finserve Limited, a wholly-owned subsidiary of the bank, accounts for 789 business correspondent branches, the lender stated.
Commenting on the performance, R Subramaniakumar, MD&CEO, RBL Bank said “We have started the new financial year with a satisfactory performance on all fronts. The Bank completed the issuance of $100 million Tier 2 Notes in this quarter improving its capital adequacy further. Our focus would be to consolidate, leverage and optimize our existing platform so as to accelerate profitable growth of the balance sheet. We will continue to focus on our key niche areas of cards and microfinance, while accelerating the diversification across more retail products”.
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