RBL Bank Q3 net up 59% to 129 cr on higher net interest income

Net interest income up 45%; other income up 66% to Rs 182 cr; slight improvement in asset quality

Private sector lender, RBL Bank has reported a 59 per cent jump in its net profit in the October-December quarter to Rs 129 crore on the back of higher net interest income and other income.

Net interest income, the difference between interest earned and interest expended, increased by 45 per cent. Even the other income which includes fees, commissions etc improved by 66 per cent to Rs 182.26 crore at the end of quarter ended December.

The bank's asset quality improved slightly. At the end of quarter ended December, the gross Non Performing Assets was at 1.06 per cent as compared to 1.08 per cent in the same quarter a year ago. The net NPA ratio also improved to 0.52 per cent as compared to 0.69 per cent in the same quarter a year ago.

Net interest margin, a key indicator of bank's profitability increased to 3.38 per cent as compared to 3.24 per cent in the same quarter last financial year.

The bank said that its cost to income ratio has improved, however, it still remains high at 53.34 per cent. The bank remains well capitalised with a capital adequacy ratio of 13.80 per cent.