MUMBAI: RBL Bank on Saturday reported a 46 per cent bounce in its September quarter net profit at Rs 294 crore, helped by a margin enlargement and wholesome core revenue development. The city-based lender had reported a net profit of Rs 202 crore within the year-ago interval.
Its core net curiosity revenue grew 26 per cent to Rs 1,475 crore on the again of a 21 per cent enhance in advances and a large enlargement within the net curiosity margin to 5.54 per cent from 5.02 per cent a 12 months in the past.
The different revenue rose 21 per cent to Rs 704 crore within the September quarter as in opposition to Rs 583 crore within the quarter-ago interval.
The financial institution undertook a reclassification train through the quarter to give all stakeholders a greater image of its enterprise efficiency, the financial institution’s managing director and chief government officer R Subramaniakumar mentioned.
Interestingly, a lot of the adjustments undertaken contact the unsecured lending portfolio, about which the RBI has flagged systemic issues within the current previous.
The financial institution bought a tax provision write-back of Rs 298 crore through the quarter which it selected to deploy for making a contingent provision for normal unsecured advances of Rs 223 crore, and likewise introduced down the complete provision for unpaid advances on such loans to 120 days as in opposition to the sooner 180 days which left with a Rs 48 crore one-time influence.
Subramaniakumar confused that the general unsecured portfolio of the financial institution is “robust” and well-managed, however added that it’s taking the above steps as a prudential measure.
The recent slippage on the bank card portfolio has inched up to Rs 290 crore from Rs 275 crore within the quarter-ago interval, a senior official mentioned, including that there’s nothing untoward or regarding on the identical.
At a time when a lot of the banking system is jostling for deposits, the financial institution’s deposit development got here at 13 per cent through the reporting quarter.
Subramaniakumar mentioned the financial institution goals to develop each advance and deposits by 20 per cent through the fiscal and is getting the reliance on bulk deposits down.
On the belongings high quality entrance, the gross non performing belongings ratio improved to 3.12 per cent as in opposition to 3.80 per cent within the year-ago interval and three.22 per cent within the June quarter.
Its total provisions elevated to Rs 640.35 crore from the quarter-ago interval’s Rs 241.50 crore.
The capital adequacy for the financial institution stood at a wholesome 17.07 per cent as of September 30, 2023.
Its core net curiosity revenue grew 26 per cent to Rs 1,475 crore on the again of a 21 per cent enhance in advances and a large enlargement within the net curiosity margin to 5.54 per cent from 5.02 per cent a 12 months in the past.
The different revenue rose 21 per cent to Rs 704 crore within the September quarter as in opposition to Rs 583 crore within the quarter-ago interval.
The financial institution undertook a reclassification train through the quarter to give all stakeholders a greater image of its enterprise efficiency, the financial institution’s managing director and chief government officer R Subramaniakumar mentioned.
Interestingly, a lot of the adjustments undertaken contact the unsecured lending portfolio, about which the RBI has flagged systemic issues within the current previous.
The financial institution bought a tax provision write-back of Rs 298 crore through the quarter which it selected to deploy for making a contingent provision for normal unsecured advances of Rs 223 crore, and likewise introduced down the complete provision for unpaid advances on such loans to 120 days as in opposition to the sooner 180 days which left with a Rs 48 crore one-time influence.
Subramaniakumar confused that the general unsecured portfolio of the financial institution is “robust” and well-managed, however added that it’s taking the above steps as a prudential measure.
The recent slippage on the bank card portfolio has inched up to Rs 290 crore from Rs 275 crore within the quarter-ago interval, a senior official mentioned, including that there’s nothing untoward or regarding on the identical.
At a time when a lot of the banking system is jostling for deposits, the financial institution’s deposit development got here at 13 per cent through the reporting quarter.
Subramaniakumar mentioned the financial institution goals to develop each advance and deposits by 20 per cent through the fiscal and is getting the reliance on bulk deposits down.
On the belongings high quality entrance, the gross non performing belongings ratio improved to 3.12 per cent as in opposition to 3.80 per cent within the year-ago interval and three.22 per cent within the June quarter.
Its total provisions elevated to Rs 640.35 crore from the quarter-ago interval’s Rs 241.50 crore.
The capital adequacy for the financial institution stood at a wholesome 17.07 per cent as of September 30, 2023.
