RBL Bank’s Q4 net profit up 37% at Rs178 crore
RBL Bank Ltd on Friday reported a net profit of Rs178 crore for the fiscal fourth quarter, a year-on-year (YoY) growth of nearly 37%.
The profit growth was backed by a rise in net interest income (NII), the core income a bank earns by giving loans. NII rose 42% YoY to over Rs500 crore in the March quarter.
RBL Bank’s loans grew 37% to Rs40,286 crore, while deposits were 27% higher at Rs43,902 crore.
The private sector lender reported a sequential improvement in asset quality. As on 31 March, gross non-performing assets (NPAs) ratio stood at 1.40% against 1.56% a quarter ago and 1.20% in the same period a year ago.