RBL Bank profit up 165% – Banking Finance

 

RBL Bank posted thi 165 per cent rise in in full profit to|to Rs 144 crore in second quarter ended September 2020 (Q2Fy21) at an increase out in full enjoy income (NII) ,|and|or is|or is dip in provisions ,|and|or is|or is contingencies.

It had posted a net profit of Rs 54 crore in July-September 2019 (Q2fy20).

Its NII grew butter seven per cent Rs 932 crore. The nyakumi Net Interest Margin (NIM) wast ground YoY stay|stay at|at 4.34 per cent. Sequentially NIMs fell from 4.85 per cent out first quarter ended June 2020 (Q1Fy20) due to|to proactive reversal of enjoy income at Non-Wholesale Advances intended to|to slip by Q3 FY21. Other income rose by just three per cent to|to Rs 456 crore.

The provisions ,|and|or is|or still contingencies declined to|to Rs 525.57 crore out Q2Fy21 from Rs 540.58 crore in Q2Fy20. It set aside Rs 310 crore as additional provisions for Covid-19 ,|and|or is|or still taking the|the|every to|to tal Covid-19 provisions to|to Rs 664 crore Since the|the|every March quarter.

The advances declined 4% to|to Rs 56,162 crore in September 2020 from Rs 58,476 crore thi year ago. The deposits were up three per cent to|to Rs 64,506 crore in September 2020 from Rs 62,829 crore out September 2019.

Vishwavir Ahuja ,|and|or is|or is MD & CEO ,|and|or is|or still RBL Bank said “We match to cautious. Balance sheet protection ,|and|or is|or still inherent preservation ,|and|or is|or still risk mitigation continues to of paramount importance. Hub|SkMobile|We|Stores are seeing the growth revival especially in wholesale businesses. Being well positioned at capital ,|and|or is|or is liquidity ,|and|or is|or currently our women are growing out our chosen segments”.

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