Q1FY18 Result: RBL Bank
DSIJ Intelligence / 20 Jul 2017
The bank's NII for the quarter increased 7 per cent YoY to Rs 379 crore in Q1FY18 as against Rs.352 crore in Q4FY17. This was due to 5.7 per cent increase in interest income and 4.7 per cent increase in interest expended.
RBL Bank reported its quarterly results today. The standalone numbers were largely strong due to robust advances growth and stable asset quality.
The bank's NII for the quarter increased 7 per cent YoY to Rs 379 crore in Q1FY18 as against Rs.352 crore in Q4FY17. This was due to 5.7 per cent increase in interest income and 4.7 per cent increase in interest expended.
Its NPAs for the quarter rose 28 per cent to Rs.457 crore in Q1FY18 as compared to Rs.356 crore in Q4FY17. Also, in percentage terms, its GNPAs for the quarter expanded by 26 bps to 1.46 per cent from 1.2 per cent in previous quarter.
Its provisions for the quarter rose 15 per cent QoQ to Rs 94.4 crore in Q1FY18. This led to slower rise in net profit by 8.4 per cent QoQ to Rs.141 crore as against Rs.130 crore in Q4FY17.
RBL Bank, formerly The Ratnakar Bank Limited, is a Kolhapur-based small-sized private sector bank. The once-ailing bank has transformed into one of the fastest growing private sector banks post management change in 2010.
RBL Bank stock closed today at Rs 538 mark, marginally up by 0.19 per cent.
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