Banking News

RBL Bank posts net profit of Rs 201 cr in Q1, asset quality improves

Private lender RBL Bank reported net profit of Rs 201 crore in the June quarter as against net loss of Rs 459 crore in the year-ago period.

The gross Non-Performing Assets (NPAs) of the bank declined to 4.08% of the gross advances as of June 30, 2022, from 4.4% registered in March qurter, it said in a stock exchange filing on Thursday.

Net NPAs too eased to 1.16% from 1.34% witnessed in Q4FY22.

As a result, the bank’s provisions and contingencies fell to Rs 253 crore as compared to Rs 1,384 crore in Q1FY22.

On Thursday, the bank’s scrip on NSE closed trading nearly 4% higher at Rs 95.

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