Money & Banking

RBL Bank profit rises 28% in Q3

Our Bureau Mumbai | Updated on January 23, 2018

RBL Bank has reported a 28 per cent year-on-year (y-o-y) increase in third quarter net profit at ₹165 crore against ₹129 crore in the year-ago period.

Net interest income (the difference between interest earned and interest expended) in the reporting quarter stood at ₹467 crore, up 45 per cent. Other income rose 42 per cent to ₹258 crore.

Advances (net) were up 38 per cent at ₹36,890 crore, and deposits rose 29 per cent to ₹38,623 crore.

Net interest margin improved to 3.89 per cent from 3.38 per cent in the year-ago quarter.

Gross non-performing assets (GNPAs) increased to 1.56 per cent of total loans against 1.06 per cent in the year-ago period.

Vishwavir Ahuja, MD and CEO, said: “We continue to see strong growth momentum across all our diversified business segments while maintaining strong asset quality.”

The growth in the wholesale portfolio (corporate and institutional segment, and commercial banking) was pegged at 35 per cent, while that of non-wholesale portfolio (retail assets, development banking and financial inclusion and agriculture) was 43 per cent.

The non-wholesale portfolio constituted about 40 per cent of the loan portfolio of the bank as on December 31, 2017.

RBL Bank shares closed at ₹536.50 apiece, up 1.43 per cent over the previous close on the BSE.

Published on January 23, 2018

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