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RBL Bank registered a consolidated net profit of Rs 201 crores for the quarter ending in 30 June 2022 while it had booked a net loss of Rs 459 crore in the same period a year ago.
The bank's earned interest rose slightly over 3% to Rs 2,089 crore in Q1FY23 in comparison to Rs 2,026 crore in Q1FY22.
RBL Bank's net interest income (NII) booked by the bank for the first quarter of the F.Y 2022-23 was Rs 1027.1 crores as against Rs 969.5 crore in the same period last financial year, rising by 6%.
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The provisions and contingencies stood at Rs 253 crore as against Rs 1,384 crore in the same period a year ago.
RBL Bank's gross NPA stood at 4.08 % in the June quarter and 4.4 % in the previous quarter, while net NPAs figures stood at 1.16 % and 1.34 % respectively.
R Subramaniakumar, MD&CEO, RBL Bank said “We have started the new financial year with satisfactory performance on all fronts. The Bank completed the issuance of $100 million Tier 2 Notes in this quarter improving its capital adequacy further. Our focus would be to consolidate, leverage, and optimize our existing platform so as to accelerate the profitable growth of the balance sheet. We will continue to focus on our key niche areas of cards and microfinance, while accelerating the diversification across more retail products”
As of a recent update, the Bank has 502 bank branches and 1,302 business correspondent branches. RBL Finserve Limited, a wholly-owned subsidiary of RBL Bank, has 789 business correspondent branches.
Shares of RBL Bank on Friday closed 2.90 % down at Rs 92.20 apiece on NSE.
-by Gautam
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