//RBL Bank Q2 profit rises 36 % to Rs 205 cr

RBL Bank Q2 profit rises 36 % to Rs 205 cr

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NEW DELHI: Private sector
RBL Bank Tuesday reported a 36 per cent rise in its September quarter profit to Rs 204.54 crore backed by rise in interest income. The bank had earned a net profit of Rs 150.62 crore in the same quarter a year ago.

Its core net interest income rose 41 per cent to Rs 592.97 crore, while the non-interest income was up 38 per cent Rs 333.11 crore.

On assets quality front, it reported a marginal decline in the gross non-performing assets (NPA) at 1.40 per cent from the 1.44 per cent in the year-ago period. Even the net NPA improved to 0.74 per cent as against 0.78 per cent at the September-end 2017.

The bank’s growth in advances portfolio rose by a 37 per cent on year-on-year basis, RBL Bank said in a statement.

“The net advances as at September 30, 2018 were Rs 45,872.66 crore as against Rs 33,576.01 on September 30, 2017, with all-round growth observed in all business segments,” it said.

The net interest margin of the bank expanded to 4.08 per cent from the 3.74 per cent in the year-ago period, it said.

The capital adequacy ratio on September 30, 2018 was 13.12 per cent and Tier-1 capital adequacy ratio was 11.84 per cent, significantly higher than the regulatory requirements, it said.