Home » RBL BANK ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st DECEMBER 2023.

RBL BANK ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st DECEMBER 2023.

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RBL BANK ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st DECEMBER 2023

Results Summary for Q3FY24:

RBL BANK Strong Profit Growth:

o Operating profit grew 35% YoY & 5% QoQ to ₹765 crore

o Total Revenue grew 23% YoY and 7% QoQ to ₹2,323 crore

o Net Interest Income grew 21% YoY and 5% QoQ to ₹1,546 crore; NIM was 5.52% vs 5.27% for Q3 FY23

o Other Income grew 26% YoY and 10% QoQ to ₹778 crore

o Core Fee Income grew 23% YoY and 7% QoQ to ₹729 crore

o Cost to Income was 67.1% vs 70.1% for Q3 FY23, down 300bps YoY

o Excluding contingent provision on AIF investments, Net Profit grew 53% YoY & 9% QoQ to
`319 crore; Reported Net Profits grew 12% YoY to ₹233 crore

o Excluding contingent provision on AIF investments, ROA was 1.03% vs 0.78% for Q3 FY23; Reported ROA was 0.75% for Q3 FY24.

· Steady Deposits Growth; with increased focus on Granular Retail Deposits:

o Total Deposits grew 13% YoY to ₹92,746 crore

o CASA grew 5% YoY to ₹31,338 crore. CASA ratio at 33.8% vs. 36.6% as at 31st Dec 2022

o Deposits less than 2 crore grew 23% YoY & 5% QoQ to ₹41,275 crore; at 44.5% of total deposits.

Strong Advances Growth; with focus on secured retail assets & commercial banking:

o Net Advances book grew 20% YoY and 5% sequentially to ₹79,949 crore

o Retail Advances book grew 33% YoY and 5% sequentially to ₹46,371 crore

o Retail disbursement for Q3 FY 24 at ₹5,958 crore

o Retail: Wholesale mix at 58:42

o Housing loans grew 48% YoY; Rural vehicle finance grew 157% YoY

o 5.75 Lakhs credit cards issued in this quarter; Total cards outstanding at 5.04mn

o Commercial Banking grew 19% YoY & 7% QoQ to ₹,912 crore

o Total customers at 14.97mn vs 12.00mn in Q3 FY23, an increase of 2.97mn.

Well capitalized for growth with stable liquidity:

o Overall capital adequacy was 16.42% vs 17.07% for Sep 23; Common Equity Tier 1 ratio was 14.58% vs 15.15% for Sep 23

o Average Liquidity Coverage Ratio at 132%

Improving Asset Quality:

o Gross NPA ratio improved to 3.12% vs 3.61% as at 31st Dec 2022, improved by 49 bps in a year

o Net NPA ratio improved to 0.80% vs. 1.18% as at 31st Dec 2022, improved by 39 bps in a year

o Provision Coverage Ratio including technical write offs was 89.3% vs 84.7% as at 31st Dec 2022, improved 460 bps in a year

o Credit cost at 48bps

o The total provisions of the Bank including specific, general and contingent at 108% of GNPA.

Expanding Distribution Presence:

o As of 31st December 2023, the Bank has 538 bank branches and 1,217 business correspondent branches, of which 290 are banking outlets. RBL Finserve Limited (“RBL Finserve”), a 100% subsidiary of the Bank, accounts for 897 business correspondent branches.

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