RBL Bank PAT surge 36 per cent yoy

RBL Bank’s net interest income for the second quarter of FY19 surged almost 41 per cent yoy to Rs. 593 crore. Also, core fee income grew by 60 per cent yoy to Rs. 325.24 crore, while other income grew by 38 per cent to Rs. 333.11 crore. 

Bank’s NIM during the quarter improves to 4.08 per cent up from 3.74 per cent in Q2FY18. The bank’s net advances stood at Rs. 45,872.66 crore, up by almost 37 per cent yoy, while its deposits stood at Rs. 47,790.09 crore up by 31 per cent yoy. 

RBL’s net profit in the quarter spikes almost 36 per cent yoy to Rs. 204.54 crore. Gross NPA in the quarter was at 1.40 per cent as against 1.44 per cent in Q2FY18, while Net NPA stood at 0.74 per cent as against 0.78 per cent in Q2FY18. Provision coverage ratio increases to 61.45 per cent from 58.27 per cent in Q2FY18. Further, its cost to income ratio stands at 51.51 per cent. 

Current Accounts & Savings Accounts (CASA) ratio improved to 24.51 per cent as at September 30, 2018, from 23.67 per cent as of September 30, 2017. 

The stock of RBL Bank turned volatile after posting its quarterly numbers and at 12.44 hours the stock was trading at Rs. 464 apiece, down by 1.2 per cent from the previous close.