RBL Bank Q3 Results: RBL Bank announced its October-December quarter results for fiscal 2023-24 (Q3FY24) on January 19, reporting a rise of 11 per cent in net profit ₹233 crore, compared to ₹209 crore in the year-ago period.
The private sector lender’s net interest income (NII) in the third quarter of current fiscal rose 35 per cent to ₹1,546 crore, compared to ₹1,277 crore in the corresponding quarter of the previous fiscal.
The bank’s gross non-performing asset (NPA) stood at 3.12 per cent, down from 3.61 percent recorded in the same quarter last year. The net NPA for the December quarter stood at 0.8 per cent compared to 1.18 per cent in the year-ago period.
The bank’s total deposits grew 13 per cent year-on-year (YoY) to ₹92,746 crore CASA grew five per cent YoY to ₹31,338 crore. CASA ratio stood at 33.8 per cent compared to 36.6 per cent in the year-ago period.
R Subramaniakumar, MD&CEO, RBL Bank said “Our advances and deposits have experienced robust growth with granularity of both sides of Balance Sheet catching pace. As per our plan, the profitability growth has outpaced Balance Sheet growth. Notably, our execution of strategic goals, have contributed to our performance. We remain well capitalised to take advantage of opportunities for growth”.
Shares of RBL Bank settled 1.59 per cent lower at ₹265.70 apiece on the BSE.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
