RBL Bank Q4 net profit jumps 30% to Rs 353 crore

Mumbai: Private sector lender RBL Bank on Saturday reported a 30 per cent rise in the post-tax net profit for the March quarter at Rs 353 crore, driven by non-interest income.

The Maharahstra-based lender had reported a net profit of Rs 271 crore in the year-ago period.

Its core net interest income grew 18 per cent to Rs 1,600 crore on a 20 per cent loan growth. However, it was limited by a compression in the net interest margin to 5.45 per cent against 5.62 per cent a year ago.

The other income grew 30 per cent to Rs 875 crore during the reporting quarter.

Its managing director and chief executive R Subramaniakumar told reporters that he sees advances continuing to grow in the 20 per cent range going forward as well.

The deposit growth came at 22 per cent even in the challenging market.

On the asset quality front, overall slippages increased to 0.56 per cent of the assets from the year-ago period's 0.44 per cent and were driven by microlending and also unsecured loans.

The gross non-performing assets ratio improved to 2.65 per cent from 3.37 per cent in the year-ago period.

The overall provisions came at Rs 414 crore against Rs 235 crore in the year-ago period.

The overall capital adequacy ratio was 16.18 per cent as of March 31, which included the core tier-I ratio at 14.38 per cent.