Third quarter results of RBL Bank reported a 6% YoY growth in standalone profit standing at Rs 156 crores against Rs 147 crores for the same period last year. The growth was seen on the back of a 30% decline in its provisions, standing at Rs 423.88 cr
The bank also saw a 10.4% QoQ increment and 11% YoY in its Net Interest Income which was Rs 1,010 crores. Its Net Interest margin saw a 4.3% growth sequentially. Its retail advances fell 6% while its wholesale advances grew 16%, resulting a total 3% rise in advances. Its deposits grew 10% to Rs 73,639 crores. CASA ratio for the quarter ended on December 2021 was 34.4%.
The bank’s total operating expenses rose 46% to Rs 1,000 crores while its retail loans fell 6%. However, its wholesale loans saw a 16% rise. The bank reached the milestone of 500 branches as it added 55 branches in the third quarter. After the results, the stock climbed over 6% to touch a high of Rs 154.50 per share.
Highlight by Aman Agarwal.