RBL Bank Q2 net soars 68 pc to Rs 150 crore

Mumbai, Oct 25 (PTI) Private sector RBL Bank today reported a 68 per cent rise in its September quarter net at Rs 150.62 crore on a rise in core interest income and a low base.Its core net interest in

Mumbai, Oct 25 (PTI) Private sector RBL Bank today reported a 68 per cent rise in its September quarter net at Rs 150.62 crore on a rise in core interest income and a low base.

Its core net interest income rose 39 per cent to Rs 420.16 crore, while the non-interest income was up 43 per cent Rs 241.07 crore.

In its profit figures for the July-September period last year, the lender had an exceptional item of Rs 28 crore which had dented its bottomline.

The bank’s net interest margin expanded to 3.74 per cent from the 3.41 per cent in the year-ago period, while it posted a 35 per cent growth in advances and 31 per cent in deposits.

On assets quality front, it reported a jump in the gross non-performing assets at 1.44 per cent from the 1.10 per cent in the year-ago period.

The bank’s managing director and chief executive Vishwavir Ahuja said the slippages came at Rs 90 crore and over half of it was contributed by the demonetisation-hit micro loans.

The bank scrip shed 2.27 per cent to close at Rs 524.45 a piece on the BSE, whose benchmark index gained 1.33 per cent.

This is published unedited from the PTI feed.