RBL Bank Q1 net profit rises 29% to ₹372 crore
RBL Bank reported first quarter net profit grew 29% YoY to ₹372 crore.
Net advances during the quarter ended June 30,2024 grew 19% YoY to ₹86,704 crore. Total deposits grew 18% YoY to ₹101,352 crore. The overall Capital Adequacy including Q1 FY25 profits was 15.56%; CET 1 was 13.85%, the bank said in a statement.
The Gross NPA was down 53bps YoY to 2.69% and Net NPA was also down 26 bps YoY to 0.74%. Provision Coverage Ratio including technical write-off was 90.0%, the bank added.
R. Subramaniakumar, MD & CEO, RBL Bank said “ Our performance continues to track our stated goals, with our execution starting to deliver promising outcomes. We are seeing early results from our strategic initiatives.”
Disclaimer: The copyright of this article belongs to the original
author. Reposting this article is solely for the purpose of information
dissemination and does not constitute any investment advice. If there is
any infringement, please contact us immediately. We will make
corrections or deletions as necessary. Thank you.