RBL Bank saw a healthy growth in Fourth Quarter of FY23. The total customers also increased as compare to FY22. They got a sharp decline in Gross and Net performing assets thereby increasing the quality of Assets. Growth in net interest income and net margin interest. The Profit of the bank took an upward movement. The bank has increased its issuance of credit cards and also the growth in the total advances as well as retail advances.
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About RBL Bank
RBL Bank which was earlier known as Ratnakar Bank, is one of the leading private sector bank in India whose headquarter is in Mumbai and established in 1943. The bank provides various banking services such as Corporate and Institutional banking, Retail Assets, Treasury and Financial Market Operations, Commercial banking, etc. The bank has also registered itself in stock exchanges and current share price is close to Rs 161 per equity share.
Quarterly Result of RBL Bank
One of the emerging private sector bank has report an increase in net profit in January-March quarter with improvement in net interest income and net interest margins. The net profit approximately grew by 37% to Rs 271 crore in FY23 as compared to Rs 198 crore in FY22. The net interest income or core income grew by 7% in FY23 as compared to last year and net interest margin grew by 5.01%.
The bank has made a statement regarding the Dividend of Rs 1.5 with a face value of Rs 10. The final decision will be taken by shareholders in the Annual General Meeting. The retail deposits in bank grew by 18 percent YoY basis and by 4 percent QoQ to Rs 36,319 crore in March quarter of FY23. The bank total deposit has shown a growth by 7 percent on year on year basis and 4 percent on quarter on quarter to Rs 84,887 crore. The bank also show growth in Current Account Saving Account (CASA) of about 14% YoY and 6% QoQ basis.
R Subramaniakumar, the CEO of RBL Bank assured that bank is now facing a healthy growth in overall management and its result. During the March Quarter bank issued 5.5 lakhs credit cards therefore, taking the total credit card disbursement to 44 lakhs.
Bad Loans
The bank has also focused on improving its assets quality by reducing the Gross Non-Performing Assets to 3.37 percent which was last year 4.4 percent and last quarter gross NPA was 3.61 percent. Similarly, Net Non-Performing Assets has fallen to 1.10 percent which was 1.18 in December quarter and 1.34 percent last year that is FY22. The bank’s net advances grew by 17 percent as compared to last year to Rs
70,209 crore. While the retail advances of the bank grew by 21 percent to Rs 37,778 as compared to FY22.
Share Price Movement
From 2019 the RBL Bank has seen a constant decline in its share price but after covid it has shown some gradual improvement in its price and current share price of the RBL Bank is nearest to Rs 161. We can also see some increase in the price movement after the positive quarterly report of FY23.
