RBL Bank reported first quarter net profit grew 29% YoY to ₹372 crore.
Net advances during the quarter ended June 30,2024 grew 19% YoY to ₹86,704 crore.
Total deposits grew 18% YoY to ₹101,352 crore. The overall Capital Adequacy including Q1 FY25 profits was 15.56%; CET 1 was 13.85%, the bank said in a statement.
The Gross NPA was down 53bps YoY to 2.69% and Net NPA was also down 26 bps YoY to 0.74%. Provision Coverage Ratio including technical write-off was 90.0%, the bank added.
R. Subramaniakumar, MD & CEO, RBL Bank said “ 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.”