RBL Bank Q2 profit up by 36% to Rs 2.04 bn, interest income sees 41% hike

Provisions and contingencies surged almost double to Rs 1.4 billion in the quarter against Rs 748.9 million a year ago

Private lender RBL Bank posted a 36 per cent rise in net profit for the September quarter, on the back of healthy growth in interest income and other income.  

Net profit for the quarter stood at Rs 2.04 billion against Rs 1.5 billion a year ago.

Net interest income (NII) rose 41 per cent to Rs 5.93 billion in September 2018 against Rs 4.2 billion in the year-ago quarter.  Other income rose 38 per cent to Rs 3.33 billion for the quarter ended September.

The bank’s asset quality improved. The gross non-performing asset (GNPA) ratio for the quarter stood at