RBL Bank Limited total revenue grew 6% yoy to Rs1,488cr in Q3FY21 from Rs1,410cr in Q3FY20. The total income in Q2FY21 was 1,388cr a rise of 7% qoq, company said in the financial results announced for the December 2020 ended quarter on Thursday.
Net Interest Income de-grew 2% yoy to Rs908cr in Q3FY21 from Rs923cr Q3FY20 and 3% qoq at Rs932cr in Q2FY21; NIM at 4.19%. Other Income was Rs580cr, up 19% yoy from Rs487cr and 27% qoq from Rs456cr in Q2FY21.
Reported Gross NPA ratio stood at 1.84% vs. 3.34% in Q2FY21, Net NPA ratio at 0.71% vs. 1.38% in Q2FY21, Provision Coverage Ratio at 86.4% vs 74.8% in Q2FY21 (58.1% in Q3FY20).
Core Fee income above pre-Covid levels, was Rs497cr, up 37% qoq. Retail constituted 86% of the Bank’s core Fee income. Cost to Income was 45.9% against 49.2% for Q3FY20. Operating profit grew 12% yoy to Rs805cr.
Total deposits grew 4% qoq to Rs67,184cr. CASA grew 24% yoy to Rs20,867cr. CASA ratio at 31.1% vs. 26.8% in Q3FY20. Retail Deposits (as per LCR definition) grew 24% yoy and 10% qoq.
Advances book at Rs56,444cr. Retail advances grew 16% yoy and 2% qoq. Retail mix was at 42:58. Overall capital adequacy at 17.9% with Common Equity Tier 1 ratio of 17.1% at the end of Q3FY21. Average liquidity coverage ratio at 164% for Q3FY21.
The company stock was in demand in early deals on Friday. At around 9.28 am, RBL Bank Ltd stock was trading at Rs227.65 up Rs12.65 or 5.88% from its previous closing of Rs215 on the BSE.
“Our operating performance this quarter has been quite satisfactory. Our capital and liquidity levels continue to be robust. It has been heartening to see the growth in the deposit franchise and we continue to grow granular deposits and reducing our funding and operating costs this financial year, making us more competitive as an institution. This should stand us in good stead particularly as we have a couple of market leading businesses, where we see growth revival happening. Having said that, we are monitoring the recovery in the economy and are cautiously optimistic,” Vishwavir Ahuja, MD & CEO, RBL Bank, said.