RBL Bank Revenue up 6% to Rs.1388 Crore, Net Profit Up 165% to 144 Crore

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Biznextindia : Private sector lender RBL bank on Wednesday reported 165 per cent YoY  growth in its net profit at Rs.144 Crore. Total revenue of the bank grew by 6 per cent to 1388 Crore.

Net Interest Income of the bank grew 7% YOY to `932 crores; NIM flat YoY at 4.34%.  However, sequentially down due to proactive reversal of interest income on Non-Wholesale Advances expected to slip by Q3 FY21.

Total deposits grew 3% YoY to Rs. 64,506 crores. CASA grew 21% YOY and 8% QOQ to Rs. 20,064 crores. CASA ratio increased to 31.1% vs. 30.1% in Q1 FY21 (26.5% in Q2 FY20). Average CASA ratio for Q2FY21 was 28.7%. The bank’s advances book at `Rs. 56,162 Crores. Non -Wholesale advances grew 23% YOY and 7% QOQ.

Overall capital adequacy of the bank was at 16.50% with Common Equity Tier 1 ratio of 15.12% at the end of Q2FY21. Gross NPA ratio at 3.34% (3.45% in Q1FY21), Net NPA at 1.38% (1.65% in Q1FY21), Provision Coverage Ratio at 74.75% vs 70.46% in Q1FY21 (58.45% in Q2FY20); 11% increase in 2 quarters.

“We are seeing growth revival especially in our retail businesses and being well positioned on capital and liquidity we are growing in our chosen segments. As a Bank, we have again achieved a robust set of numbers in this quarter and prudently added to our provisioning buffers. Despite the positive signals, we continue to focus on balance sheet protection, risk mitigation and capital conservation in the near term “ Mr. Vishwavir Ahuja, MD & CEO, RBL Bank said.

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