RBL Bank Q3 profit slips 69 pc to Rs 70 cr
The private sector lender had registered a net profit of Rs 225.20 crore in October-December period of the previous fiscal.
However, total income increased to Rs 2,64,430 crore as against Rs 1,029.20 crore for the same period year ago, the bank said in a regulatory filing.
Net interest income was up 41 per cent to Rs 922.6 crore during the quarter as against Rs 655.10 crore in the year-ago period.
Asset quality of the bank deteriorated with gross non-performing assets (NPAs) rising to 3.33 per cent of gross advances as on December 31, 2019 from 1.38 per cent in the year-ago period.
Net NPAs also rose to 2.07 per cent of net loans from 0.72 per cent in the corresponding quarter of 2018-19, the bank said.
As a result provisions (other than tax) and contingencies rose significantly to Rs 638.29 crore from Rs 160.68 crore in the same quarter a year ago.
However, net interest margin improved year-on-year basis to 4.57 per cent in the reported quarter from 4.12 per cent.The bank in a separate regulatory filing said it has approved re-appointment of Rajeev Ahuja as the executive director for a period of three years with effect from February 21, 2020, subject to the approval of the Reserve Bank of India. DP DP SHW SHW
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