RBL Bank Q4 Results: Net profit up 30% to Rs 353, declares dividend

RBL Bank Q4 Results: Net profit up 30% to Rs 353, declares dividend

RBL Bank Ltd. on April 27 reported a 30 percent rise in the March quarter of FY 2023-24 at Rs 353 crore. The bank had earned a net profit of Rs 271 crore in the year-ago period.

Bank’s net interest margin came at 5.45 percent, down from 5.62 percent and its net interest income was at Rs 1600 crore, 18 percent up from Rs 1357 crore.

The bank declared a dividend of Rs 1.50 per equity share.

The gross non-performing assets (GNPA) improved 72 bps YoY to 2.65 percent while NNPA improved 36bps YoY to 0.74 percent.

Total deposits grew 22 percent YoY Rs 1.03 lakh crore and CASA grew 15 percent YoY to Rs 36,448 crore. The CASA ratio stood at 35.2 percent. The net advances of the bank grew 20 percent YoY and stood at Rs 83,987 crore.

The bank added 28 new branches in FY24. Shares of the bank closed for trading on April 26 at Rs 265.55, 1.07 percent up.