RBL Bank registered a net profit of Rs75cr in the quarter ending March 2021 (Q4FY21) period, declining by 34% from Rs114cr a year ago same period. Net interest income was at Rs906cr in the quarter under review, contracting by 11% from Rs1,021cr in a similar quarter last year.
Net interest margin in the latest quarter stood at 4.17%.
Vishwavir Ahuja, MD & CEO, RBL Bank said “We have dealt with the impact of the COVID pandemic fairly satisfactorily in as much as we have taken several steps to strengthen the franchise, by building strong capital buffers, deepening and expanding the deposit base, granularising and improving the quality of the balance sheet, maintaining Net NPAs at satisfactory levels, similar to last year, while maintaining overall profitability. All this should hold us in good stead as we enter FY22. We continue to invest in the franchise and are adding growth engines in retail and digital to supplement our market-leading franchises. We are closely monitoring the pandemic and impact on the economy and remain cautiously optimistic of a growth revival as the situation normalises “
Key highlights of the earnings are:
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Gross NPA ratio at 4.34% vs. 4.57% in Q3FY21 (Proforma basis), Net NPA ratio at 2.12% vs. 2.52% in Q3FY21 (Proforma basis).
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Provision Coverage Ratio at 72.2% vs 68.8% in Q3FY21 (Proforma basis) and 64.0% in Q4FY20, up 8% YoY.
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Advances book at Rs58,623cr. Retail advances grew 13% YOY and 4% QOQ to Rs34,390cr. Retail: Wholesale mix at 59:41.
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Total deposits grew 26% YOY and 9% QOQ to Rs73,121cr.
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The bank added 26 branches during Q4FY21 taking the total number of branches to 429 as at 31st March 2021. In addition, the Bank also has 1,365 business correspondent branches, of which 260 are banking outlets.
At around 2.29 pm, RBL Bank was trading at Rs183.35 per piece up by 0.9% on Sensex.
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