RBL Bank Limited announced its unaudited standalone financial results for the quarter and half year ending September 30, 2024, showcasing robust growth across key metrics. The bank’s net interest income (NII) has demonstrated a significant increase, underscoring its strong operational performance.
For the second quarter of FY2024, RBL Bank reported a net interest income of ₹1,614.97 crore, an increase from ₹1,586.07 crore in the previous quarter. This reflects a year-on-year growth from ₹1,245.78 crore for the same period last year. The growth in net interest income is driven by a strategic focus on enhancing its lending portfolio and optimizing its cost of funds.
The bank also reported a net profit of ₹222.52 crore for the quarter ended September 30, 2024, down from ₹371.52 crore in the previous quarter but representing an increase compared to ₹294.08 crore in the corresponding quarter of the previous year. For the half-year period ending September 30, 2024, the net profit stands at ₹594.04 crore, showcasing a solid trajectory of profitability despite market challenges.
The total income for the quarter reached ₹4,458.29 crore, marking a healthy rise compared to ₹3,712.39 crore in Q2 FY2023. This growth can be attributed to increased interest earned from advances, income from investments, and robust performance in other banking operations.
The bank’s capital adequacy ratio (CAR) stood at 15.39%, indicating a strong capital position relative to its risk-weighted assets, which aligns with regulatory requirements.
RBL Bank’s focus on digital banking and enhancing customer experience continues to pave the way for sustainable growth as it adapts to the evolving financial landscape.
