RBL Bank reports 10% YoY growth in revenue at Rs 1,630 crore in Q3 | Business Upturn

RBL Bank reports 10% YoY growth in revenue at Rs 1,630 crore in Q3

The gross non-performing assets (NPAs) ratio declined 56 basis points to 4.84 per cent at the end of the December quarter as against 5.40 per cent at the end of the September quarter.

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Private sector lender RBL Bank’s net profit vaulted six per cent to Rs 156.10 crore in October–December quarter (Q3FY22). Net profit hopped 5 times as the bank registered Rs 30 crore as net profit in Q2FY22 administered by lower provisions and healthy growth in net interest income (NII).

The NII of the bank increased 11 per cent year-on-year (YoY) to Rs 1,010 crore in Q3FY22 while further income rose 8 per cent to Rs 620 crore in the same period. The private lender shares stood at 153.40 INR (+9.40) with a skyrocketed hype of

Net NPAs tumbled 29 bps to 1.85 per cent during the same period. The gross non-performing assets (NPAs) ratio declined 56 basis points to 4.84 per cent at the end of the December quarter as against 5.40 per cent at the end of the September quarter. After the stock price decreased 4.5% last week, the company’s market value declined by ₹4.1 B. By vending ₹734m worth of RBL Bank

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Limited stock at an average sell price of ₹223 over the last year. Over the last year, we can see that the biggest insider sale was by the insider, Vishwavir Ahuja, for ₹205m worth of shares, at about ₹251 per share.

“This has been a turnaround quarter as we have seen a sharp improvement in both profitability and asset quality. Our business and advances momentum is now firmly on a positive trajectory, and we expect this to continue with retail also returning to growth,” said Rajeev Ahuja, MD & CEO (Interim), RBL Bank.

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