RBL Bank net at Rs 92.7 cr in FY14

Private sector lender RBL Bank, formerly known as Ratnakar Bank, has reported a net profit of Rs 92.7 crore for the fiscal year ended March 2014.

The bank had earned a net profit of Rs 92.5 crore in 2012-13.

Its total income in 2013-14 fiscal jumped to Rs 1,612.6 crore from Rs 1,005.8 crore in 2012-l3.

Despite a challenging macroeconomic environment, advances grew by 54% to Rs 9,835 crore while deposits grew by 39% to Rs 11,599 crore as on March 31, 2014, RBL said in a statement.

Total assets of bank were at Rs 18,198 crore while capital adequacy ratio stood at 14.64% following the capital raise in March 2014, it said.

Commenting on the results, Vishwavir Ahuja, Managing Director of RBL Bank said: "While we have seen significant positive traction in CASA (Current Account, Savings Account) build up over the past financial year, we continue to focus on this area to generate better returns.

The bank's strong rural network has enabled agri-banking and financial inclusion businesses to become an integral part of its revenue model, he said.