RBL Bank, a private lender, announced a 33% increase in net profit for the December 2022 quarter to ₹208.97 crore on Friday. It was ₹156.1 crore the previous year.
Net interest income (NII) increased by 14% in the third quarter to ₹1,148 crore, up from ₹1,010 crore in the same quarter previous year.
The bank’s overall revenue increased by 11% year on year to ₹1,767 crore, while other income increased by 6% year on year to ₹618 crore.
The gross NPA ratio improved to 3.61% from 3.80% in the previous quarter, while the net NPA ratio decreased to 1.18% from 1.26% in the previous quarter.
RBL Banks’ net advances increased 15% to ₹66,684 crore from ₹58,141 crore in the previous fiscal quarter. Retail advances increased 13% year on year to ₹34,977 crore from ₹30,900 crore.
RBL Bank operates 516 bank branches and 1,168 business correspondent branches, with 298 of them serving as banking outlets.
On the BSE, RBL Bank shares finished 1.58% higher at ₹169.90 per share on Friday.