RBL Bank Limited (Script Code: 540065), in its board meeting held on October 19, 2024, announced its unaudited standalone financial results for the quarter and half year ended September 30, 2024. The results reflect a robust performance with notable growth across key financial metrics.
Key Highlights:
- Net Profit: RBL Bank reported a net profit of ₹22.25 crore for Q2 FY2024, a decline from ₹37.15 crore in the previous quarter (Q1 FY2024), but an increase compared to ₹29.41 crore in the same quarter last year (Q2 FY2023).
- Total Income: The bank’s total income for Q2 FY2024 stood at ₹445.83 crore, up from ₹430.17 crore in the preceding quarter and ₹371.24 crore in the corresponding quarter last year.
- Interest Earned: The bank earned interest income of ₹353.09 crore in Q2 FY2024, an increase from ₹349.62 crore in Q1 FY2024, attributed primarily to a rise in interest from advances and investments.
Financial Ratios:
- Capital Adequacy Ratio: The bank’s capital adequacy ratio improved to 15.39%, maintaining compliance with Basel III norms.
- Earnings Per Share (EPS): The basic EPS for the quarter was reported at ₹3.67, compared to ₹4.90 in Q1 FY2024 and ₹4.90 in Q2 FY2023.
Asset Quality:
- Gross Non-Performing Assets (NPA): The gross NPA ratio stood at 2.88% for Q2 FY2024, slightly higher than 2.69% in the previous quarter but improved from 3.12% in the same quarter last year.
- Net NPA Ratio: The net NPA ratio was recorded at 0.79%, consistent with the previous quarter and reflecting the bank’s effective asset management strategy.
Management Commentary: The bank’s management expressed optimism regarding the ongoing recovery in the banking sector and is focused on improving asset quality while expanding its retail and wholesale banking operations.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before making investment decisions.
