RBL Bank Q1 PAT rises 29% YoY to Rs 372 crore

The private lender's standalone net profit jumped 28.95% to Rs 371.52 crore on 21.47% increase in total income to Rs 4,301.70 crore in Q1 FY25 over Q1 FY24.

Profit before tax in June 2024 stood at Rs 492.79 crore, up 29.24% from Rs 381.3 crore reported in Q1 FY24.

Net interest income grew 20% year on year (YoY) to Rs 1,700 crore in the quarter ended 30 June 2024. Net interest margin (NIM) improved to 5.67% in Q4 FY24 as compared to 5.53% reported in the same quarter a year ago.

Operating profit in the quarter ended March 2024 was at Rs 859 crore, up 33% from Rs 647 crore recorded in Q1 FY24.

Provisions (other than tax) and contingencies increased 37.60% YoY to Rs 366.29 crore during the quarter.

On the asset quality front, gross non-performing assets (NPAs) stood at Rs 2,378 crore as on 30 June 2024 as against Rs 2,404 crore as on 30 June 2023.

The GNPA ratio reduced to 2.69% as on 30 June 2024 as against 3.22% as on 30 June 2023. The net NPA ratio stood at 0.74% as on 30 June 2025 as compared to 1% as on 30 June 2023.

Provision coverage ratio including technical write offs was at 90% as on 30 June 2024 as against 85.9% as on 30 June 2023, improved 414 bps in a year.

Net advances as on 30 June 2024 was at Rs 86,704 crore, registering a growth of 19% YoY while Deposits grew by 18% YoY to Rs 1,01,352 crore as on 30 June 2024.

CASA deposits stood at Rs 33,003 crore as on 30 June 2024, up 3% YoY. CASA ratio reduced to 32.6% as on 30 June 2024 as compared to 37.3% as on 30 June 2023.

Capital adequacy was 15.56% and common equity tier 1 ratio was 13.85% as on 30 June 2024. Average liquidity coverage ratio came in at 137%.

As of 30 June 2024, the bank has 1,806 total touchpoints of which 545 are bank branches and 1,261 business correspondent branches, of which 297 are banking outlets.

R Subramaniakumar, MD&CEO, RBL Bank said We are pleased to report another period of stable financial performance. 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.

RBL Bank is one of India's leading private sector banks with an expanding presence across the country. The bank offers specialized services under five business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets and treasury and financial markets operations.

The scrip rose 0.35% to currently trade at Rs 241 on the BSE.

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