RBL reports Rs 201 crore net for April-June quarter

MUMBAI: RBL Bank reported a net profit of Rs 201 crore for the quarter ended June as against a net loss of Rs 459 crore in the year-ago period. Recently appointed MD & CEO R Subramaniakumar said that the bank would be getting into new retail segments and launching products in auto loans, home finance as well as SME lending.
RBL Bank’s shares rose 4% to Rs 95 apiece, following the better-than-expected results. Its advances book grew 6% year-on-year to Rs 79,216 crore. However, sequentially, the growth was only marginal from Rs 79,007 crore as of end-March 2022.