Q3 Profit For RBL Bank Surges 11% To Rs 233 Cr
In the third quarter ending December 2023, RBL Bank, a private sector bank, reported a profit increase of 11 per cent to Rs 233 crore, compared to Rs 209 crore in the same quarter the previous year.
The total income for the quarter rose to Rs 3,969 crore from Rs 3,116 crore in the corresponding period last year, as stated in a regulatory filing by RBL Bank. Additionally, the interest income showed improvement, reaching Rs 3,191 crore in the current quarter, compared to Rs 2,498 crore in the same period a year ago.
The bank reported a decline in gross Non-Performing Assets (NPAs) to 3.12 per cent of total loans at the end of December 2023, down from 3.61 per cent a year ago. Furthermore, net NPAs or bad loans decreased to 0.80 per cent from 1.18 per cent at the end of the third quarter of the previous fiscal year.
