RBL Bank on Friday reported a 34 per cent growth in its December quarter net profit at Rs 209 crore.
The private sector bank had posted a profit of Rs 156 crore in the October-December quarter of FY2021-22.
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As per a regulatory filing, RBL Bank’s total revenue grew 11 per cent year-on-year to Rs 1,767 crore and net interest income was up 14 per cent to Rs 1,148 crore for the quarter ended December 2022.
Bank’s gross NPA ratio improved to 3.61 per cent compared to 3.80 per cent as at September 30, 2022 and net NPA ratio was 1.18 per cent versus 1.26 per cent as at the end of September 2022 quarter.
“Our business growth, driven by granular advances and deposits growth, continues to improve, in line with our strategy and execution.
“Our initiatives over the last six months on new product launches, and scale up of granular retail products are also starting to bear fruit,” R Subramaniakumar, MD and CEO, RBL Bank, said.
As of December, 2022, the bank had 516 bank branches and 1,168 business correspondent branches, of which 298 are banking outlets.
RBL Finserve Limited, a 100 per cent subsidiary of the bank, accounts for 821 business correspondent branches. PTI NKD SHW
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