Press Release27 Apr 2024, 05:43 pm
RBL Bank Announces 49% Operating Profit Growth in Q4 FY24, Net Profit Up 30% YoY
AI Summary
RBL Bank Limited recently announced their audited financial results for the quarter and year ended on March 31, 2024, during a Board meeting held on April 27, 2024. The bank reported a strong operating profit growth of 49% Year-on-Year (YoY) and a net profit growth of 30% YoY. Other key highlights include a 20% YoY increase in net advances, a 30% YoY increase in retail advances, a 22% YoY growth in deposits, and improvements in gross non-performing assets (GNPA) and net non-performing assets (NNPA). The bank also maintained a sound capital position with a Total Capitel Adequacy Ratio (CRAR) of 16.18% and a Common Equity Tier 1 (CET 1) of 14.38%.
Key Highlights
- Operating profit grew 49% YoY and 16% QoQ
- Net profit grew 30% YoY and 51% QoQ
- Net Advances grew 20% YoY and Bank reported a 30% YoY increase in Retail Advances
- Total Deposits grew 22% YoY and CASA ratio stayed at 35.2%
- Improvements in Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) were 72bps and 36bps YoY respectively