Profit before tax in Q3 FY24 stood at Rs 307.11 crore, up 11.9% from Rs 274.46 crore reported in Q3 FY23.

Net interest income jumped 21% to Rs 1,546 crore in Q3 FY24 as against Rs 1,277 crore recorded in Q3 FY23. Net interest margin (NIM) improved to 5.52% in Q3 FY24 as compared to 5.27% reported in the same quarter a year ago.

Operating profit was at Rs 765 crore in the December quarter, up 35% from Rs 567 crore posted in Q3 FY23.

Provisions (other than tax) and contingencies climbed 56.5% year on year to Rs 458.14 crore during the quarter.

On the asset quality front, gross non-performing assets (NPAs) stood at Rs 2,551.05 crore as on 31 December 2023 as against Rs 2,468.68 crore as on 31 December 2022.

The GNPA ratio improved to 3.12% as on 31 December 2023 as against 3.61% as on 31 December 2022 The net NPA ratio stood at 0.80% as on 31 December 2023 as compared to 1.18% as on 31 December 2022.

Provision coverage ratio including technical write offs was at 89.3%as on 31 December 2023 as against 84.7% as on 31 December 2022, improved 460 bps in a year. Provision coverage ratio stood at 75.1% as on 31 December 2023.

Net advances as on 31 December 2023 was at Rs 79,949 crore, registering a growth of 20%. Deposits grew by 13% YoY to Rs 92,746 crore as on 31 December 2023.

CASA deposits stood at Rs 31,338 crore as on 31 December 2023, up 5%YoY. CASA ratio reduced to 33.8% as on 31 December 2023 as compared to 36.6% as on 31 December 2022.

Capital adequacy was 16.42% and common equity tier 1 ratio was 14.58% as on 31 December 2023. Average liquidity coverage ratio came in at 132%.

Return on assets (ROA) and return on equity (ROE) for Q3 FY24 was 0.75% & 6.48% respectively.

As of 31 December 2023, the bank has 538 bank branches and 1,217 business correspondent branches, of which 290 are banking outlets.

R Subramaniakumar, MD&CEO, RBL Bank said “Our advances & deposits have experienced robust growth with granularity of both sides of balance sheet catching pace. As per our plan, the profitability growth has outpaced balance sheet growth. Notably, our execution of strategic goals, have contributed to our performance. We remain well capitalised to take advantage of opportunities for growth.”

RBL Bank is one of India's leading private sector banks with an expanding presence across the country. The bank offers specialized services under five business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets and treasury and financial markets operations.