RBL Bank profit up 68% on strong growth in interest, non-interest income
, ET Bureau|
Updated: Oct 25, 2017, 07.34 PM IST
Mumbai: RBL Bank reported a 68% increase in net profit in the quarter ended September 2017 from a year earlier riding on an increase in both interest and non interest income. Net profit increased to Rs 151 crore in the second quarter up from Rs 90 crore a year earlier.
Net interest income increased 39% to Rs 420 crore while other income rose 43% to Rs 241 crore led by income from third party service, processing fees and distribution income.
“We have a seen an all round growth in our bank in this quarter in a tough environment. Our corporate and commercial banking portfolio has improved and our consumer book has also been steady. I see no concerns in our book,” said CEO Vishwavir Ahuja.
Corporate and commercial banking which includes loans to both large and small companies make up 60% of the bank’s book while remaining loans include lending to individuals, micro finance and agriculture.
RBL’s gross NPA ratio increased to 1.44% from 1.10% a year ago but was lower than the 1.46% reported in June 2017. Restructured loans increased to 0.41% of total loans from 0.08% a year ago and higher than 0.25% in June.
Net interest income increased 39% to Rs 420 crore while other income rose 43% to Rs 241 crore led by income from third party service, processing fees and distribution income.
“We have a seen an all round growth in our bank in this quarter in a tough environment. Our corporate and commercial banking portfolio has improved and our consumer book has also been steady. I see no concerns in our book,” said CEO Vishwavir Ahuja.
Corporate and commercial banking which includes loans to both large and small companies make up 60% of the bank’s book while remaining loans include lending to individuals, micro finance and agriculture.
RBL’s gross NPA ratio increased to 1.44% from 1.10% a year ago but was lower than the 1.46% reported in June 2017. Restructured loans increased to 0.41% of total loans from 0.08% a year ago and higher than 0.25% in June.
