RBL Bank's net profit plunges 69% yoy; asset quality deteriorates

RBL Bank's net profit plunges 69% yoy; asset quality deteriorates

The board of directors of RBL Bank Limited at its meeting held today, approved the financial results for Q3FY20 and nine months ended December 31, 2019.


The bank's net interest income (NII) stood at Rs922.6cr as against Rs655.1cr in Q3 FY19, an increase of 41% yoy. Other Income came in at Rs487.0cr vs. Rs374.1cr in Q3FY19, an increase of 30% yoy.

Operating profit stood at Rs732.2cr as against Rs498.5 crore in Q3 FY19, an increase of 47% yoy.

Net profit plunged to Rs69.9cr as against Rs225.2cr in Q3FY19, down 69% yoy, but up 29% qoq.

Net Interest Margin (NIM) stood at 4.57% as against 4.12% in Q3FY19.

The bank’s growth in advances portfolio continued to be robust at 20% on a year‐on‐year basis. The net advances as at December 31, 2019 were Rs59,635.0cr as against Rs49,892.6cr on December 31, 2018. The non‐wholesale portfolio constituted about 51% of the loan portfolio of the Bank as at December 31, 2019.

The gross NPA ratio is 3.33% as at December 31, 2019 as against 1.38% as at December 31, 2018. The restructured standard assets portfolio has decreased to 0.06% as at December 31, 2019 from 0.09% as at December 31, 2018.

The net NPA ratio is 2.07% as at December 31, 2019 as against 0.72% as at December 31, 2018. The Bank’s provisioning coverage ratio (including technical write‐offs), stood at 58.07% as at December 31, 2019 as against 63.22% as at December 31, 2018.

Commenting on the performance Mr. Vishwavir Ahuja, MD & CEO, RBL Bank said “The Bank has demonstrated strong growth in operating profits amidst a challenging business environment. However, challenges in a few corporate accounts and related provisioning requirements have impacted the bottom line for the quarter. We are digesting this short term pain and are looking to put this behind us over the next few months. In the quarter gone by the Bank also raised equity capital of Rs. 2,701 crore enhancing the long term capital resources of the Bank. This should enable the Bank to continue to invest in expanding in its chosen business segments and distribution franchise."




About Gosip4U

Gosip4U is the digital wing of india - India's leading media and communications group with its interests spanning across country.

0 comments:

Post a Comment

Please add comment