RBL Bank Q3 profit rises 11% to Rs 233 crore

Private sector RBL Bank on Friday reported an 11% increase in its profit to Rs 233 crore in the third quarter ended in December 2023. The bank had earned a net profit of Rs 209 crore in the same quarter a year ago.

Total income increased to Rs 3,969 crore during the quarter under review against Rs 3,116 crore in the same period last year, RBL Bank said in a regulatory filing.

Interest income of the bank also improved to Rs 3,191 crore during the quarter compared to Rs 2,498 crore in the same period a year ago.

The bank's gross Non-Performing Assets (NPAs) declined to 3.12% of the total loans at the end of December 2023 from 3.61% a year ago.

Net NPAs or bad loans also came down to 0.80% from 1.18% at the end of the third quarter of the previous fiscal.