BUSINESS

Q3 Results for RBL Bank: Net Profit Increases 11% to Rs 233 Crore

Private bank RBL Bank said on Friday that its third-quarter earnings, which concluded in December 2023, increased by 11% to Rs 233 crore. In the same quarter a year before, the bank had made a net profit of Rs 209 crore.

According to a regulatory statement from RBL Bank, total income climbed to Rs 3,969 crore during the quarter under review from Rs 3,116 crore during the same time the previous year. The bank’s interest income also increased during the quarter, coming in at Rs 3,191 crore as opposed to Rs 2,498 crore during the same time last year.

By the end of December 2023, the bank’s gross non-performing assets (NPAs) had dropped from 3.61% of all loans to 3.12% of all loans. Additionally, net non-performing assets, or bad loans, decreased from 1.8% at the end of the third quarter of the previous fiscal year to 0.80%.

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