RBL Bank’s standalone net profit more than doubled in the third quarter of the fiscal year to ₹147.06 crore against ₹69.95 crore in the same period last fiscal.

For the quarter ended December 31, 2020, its net interest income, however, fell by two per cent to ₹908 crore against ₹923 crore a year ago.

Net interest margin also fell to 4.19 per cent at the end of the third quarter this fiscal from 4.57 per cent a year ago.

Other income surged by 19 per cent to ₹580 crore in the October to December 2020 quarter versus ₹487 crore a year ago.

“Our capital and liquidity levels continue to be robust. It has been heartening to see the growth in the deposit franchise, and we continue to grow granular deposits and reducing our funding and operating costs this financial year, making us more competitive as an institution,” said Vishwavir Ahuja, Managing Director and CEO, RBL Bank.

Provisions fell by two per cent to ₹609.76 crore in the third quarter this fiscal from ₹622.84 crore a year ago.

Gross non-performing assets (NPA) eased to ₹1,050.21 crore or 1.84 per cent as on December 31, 2020, against 3.33 per cent a year ago. Net NPAs stood at 0.71 per cent of net advances at the end of the third quarter this fiscal from 2.07 per cent a year ago.

Ahuja said proforma gross NPA was 4.57 per cent as on December 31, 2020, and proforma net NPA was 2.52 per cent.

Total restructuring amounts to ₹550 crore, which is primarily from retail customers.

Provision Coverage Ratio stands at 86.4 per cent in the third quarter against 58.1 per cent a year ago.

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