RBL Bank posts strong Q4 with 30% jump in net profit

RBL Bank Q4 earnings: RBL Bank has reported a robust performance for the March quarter, with its post-tax net profit surging by 30 per cent to Rs 353 crore. The growth was primarily driven by non-interest income, reflecting the bank's diversified revenue streams.

Compared to the year-ago period, RBL Bank's net profit has shown substantial improvement from Rs 271 crore. The bank's core net interest income also witnessed an increase of 18 per cent to Rs 1,600 crore, supported by a healthy 20 per cent growth in loans. However, the net interest margin experienced a slight compression to 5.45 per cent from 5.62 per cent a year earlier.

Furthermore, the bank recorded 30 per cent growth in other income, hitting Rs 875 crore during the reporting quarter. R Subramaniakumar, Managing Director and Chief Executive Officer of RBL Bank, expressed optimism about continued loan growth in the range of 20 per cent, highlighting the bank's resilience in the face of market challenges.

RBL Bank demonstrated deposit growth of 22 per cent, reflecting depositor confidence in the bank's stability and performance. Additionally, the bank achieved an improvement in gross non-performing assets (NPA) ratio, which declined to 2.65 per cent from 3.37 per cent in the year-ago period.

To bolster its financial position, RBL Bank maintained a prudent approach towards provisions, with overall provisions amounting to Rs 414 crore compared to Rs 235 crore in the previous year. The bank's overall capital adequacy ratio stood at 16.18 per cent as of March 31, with the core tier-I ratio at 14.38 per cent.

(With PTI inputs)