RBL Bank Q2 net profit rises 36% to Rs 205 cr; gross NPAs decline marginally to 1.4%
RBL Bank's core net interest income rose 41 percent to Rs 592.97 crore, while the non-interest income was up 38 percent Rs 333.11 crore
New Delhi: Private sector RBL Bank on Tuesday reported a 36 percent rise in its September quarter profit to Rs 204.54 crore backed by rise in interest income.
The bank had earned a net profit of Rs 150.62 crore in the same quarter a year ago.
Its core net interest income rose 41 percent to Rs 592.97 crore, while the non-interest income was up 38 percent Rs 333.11 crore.
On assets quality front, it reported a marginal decline in the gross non-performing assets (NPA) at 1.40 percent from the 1.44 percent in the year-ago period. Even the net NPA improved to 0.74 percent as against 0.78 percent at the September-end 2017.
The bank's growth in advances portfolio rose by a 37 percent on year-on-year basis, RBL Bank said in a statement.
"The net advances as at 30 September, 2018 were Rs 45,872.66 crore as against Rs 33,576.01 on 30 September, 2017, with all-round growth observed in all business segments," it said.
The net interest margin of the bank expanded to 4.08 percent from the 3.74 percent in the year-ago period, it said.
The capital adequacy ratio on 30 September, 2018 was 13.12 percent and Tier-1 capital adequacy ratio was 11.84 percent, significantly higher than the regulatory requirements, it said.
Gross NPAs in value terms dropped to Rs 55,874.81 crore at June-end this year from Rs 56,480.39 crore at end-March, but were up compared to Rs 46,172.77 crore at the end of June 2017.
Gross non-performing assets of the bank rose to 3.96% of the gross advances as of September 30
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