RBL Bank net profit: RBL Bank net profit rises 234% to Rs 230 crore
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Total income grew 7% year-on-year to Rs 2,740 crore, supported by steady growth in both interest and non-interest income streams. Net interest income rose 7% to Rs 1,671 crore. Interest income rose 7% to Rs 3,720 crore, with net advances rising 23% to Rs 114,232 crore, retail advances rising 20% to Rs 67,119 crore. Interest expense also increased by 7% to Rs 2,049 crore, reflecting 25% growth in total deposits to Rs 139,018 crore. CASA deposits grew 23% to Rs 46,723 crore, with CASA ratio at 33.6%.Other income rose 7% to Rs 1,069 crore, core fee income rose 9% to Rs 1,057 crore. Other components of non-interest income remained largely stable, with growth driven primarily by fees.Operating expenses rose 5% to Rs 1,785 crore, employee costs rose 8% to Rs 482 crore. Operating profit rose 11% to Rs 955 crore. Provisions declined 14% to Rs 678 crore from Rs 785 crore a year ago, with provisions on advances falling 16%. Tax expenditure increased from Rs 7 crore to Rs 47 crore in the same quarter last year.Asset quality improved during the year, with gross NPAs declining from 2.60% to 1.45%, a reduction of 115 basis points. Net NPA stood at 0.39% compared to 0.29% a year ago. The provision coverage ratio was 73.6%. Capital adequacy ratio was 14.25%, with CET-1 ratio of 12.77%.
