RBL Bank Q3 result, Profit rose to Rs128.69 crore

RBL Bank Ltd, formerly known as Ratnakar Bank, reported a 59% year-on-year increase in net profit for the December quarter, benefiting from higher interest and non-interest income.

The bank’s profit rose to Rs128.69 crore in the three months from Rs81.05 crore a year ago.

Net interest income, the difference between interest earned on loans and that paid on deposits, rose 45% from a year ago to Rs321.58 crore in the fiscal third quarter. Non-interest income including fees and commissions rose 66% year-on-year to Rs182.26 crore.

The net interest margin for October-December widened to 3.38% from 3.24% a year ago.

Gross non-performing assets (NPAs) as a ratio of gross advances as of 31 December were at 1.06%, lower than 1.1% as of 30 September. The net NPA ratio at the end of the third quarter was 0.52%, down from 0.55% in the second quarter.

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RBL Bank Q2 result, Profit rises 34% to Rs90 crore

RBL Bank Ltd Wednesday said fiscal second-quarter profit rose 34% from a year ago on account of higher interest income.

Net profit increased to Rs.89.89 crore in the three months ended 30 September from Rs.66.93 crore a year ago.

Net interest income (NII), or the core income a bank earns by giving loans, rose 62.81% to Rs302.94 crore from Rs189.93 crore a year ago. Cost-to-income ratio for the September quarter stood at 54.36% compared with 60.93% a year ago.

Advances increased by 44% to Rs24,875 crore for the second quarter, against Rs17,279 crore a year ago. “We are targeting 30%-35% growth in advances over the next four years,” said Rajeev Ahuja, head strategy of RBL Bank.

Gross non-performing assets (NPAs) edged up to Rs274.65 crore from Rs161.61 crore a year ago. As a percentage of total loans, gross NPAs were 1.1% at the end of the September quarter, compared to 1.13% in the previous quarter and 0.93% in the year-ago quarter. Net NPAs stood at 0.55% for the first quarter compared to 0.66% in the last quarter and 0.48% a year ago.

Provision coverage ratio stood at 60.34% for the second quarter. Capital adequacy ratio was 14.55%.

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