Private-sector lender RBL Bank’s net profit for the quarter ended December 2017 rose by 28 per cent to Rs 1.65 billion (Rs 165 crore) backed by rising in net interest and other income. This was against a net profit of Rs 1.28 billion (Rs 128 crore) in the previous year’s corresponding quarter.
Net interest income rose by 45 per cent to Rs 4.67 billion (Rs 467 crore) during the September–December quarter, from Rs 3.21 billion (Rs 321 crore) in the same quarter a year ago.
Other income comprising fees, commissions and treasury revenues was Rs 2.58 billion (Rs 258 crore) against Rs 1.82 billion (Rs 182 crore) during last year’s third quarter, a rise of 42 per cent.
The asset quality worsened with the gross non-performing assets (GNPAs) rising to 1.56 per cent at end of December 2017. This was 50 basis points higher from 1.06 per cent in previous year’s corresponding quarter.
The provisions coverage ratio for the quarter under review also fell to 52.54 per cent from 60.96 per cent in December 2016.
Bank's Capital Adequacy Ratio (CAR) stood at 15.03 per cent at end of December 2017, up from 13.8 per cent in December 2016.
Deposits for the quarter grew by 29 per cent and advances grew by 38 per cent.
RBL Bank’s stock was trading at Rs 536.5 per share, 1.43 per cent up from previous day's close on the Bombay Stock Exchange.