RBL Bank Q4 results: Net profit sinks 34% YoY, misses estimates; asset quality improves

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MUMBAI: right now reported a 34 per cent year-on-year decline in internet profit to Rs 75 crore, which was beneath analysts’ estimates. The decline in profit was largely on account of upper provisioning within the quarter.

The lender’s internet curiosity earnings within the quarter slumped 11 per cent on-year to Rs 906 crore, which was additionally beneath Street’s estimates.

However, the lender reported an enchancment in asset quality for the quarter. The financial institution’s gross non-performing belongings ratio was at 4.34 per cent as towards 4.57 per cent on a proforma foundation 1 / 4 in the past. Similarly, internet NPA ratio stood at 2.12 per cent as towards 2.52 per cent 1 / 4 in the past.

Operating efficiency within the quarter was agency as pre-provision working profit rose 17 per cent on-year to Rs 877 crore. However, internet curiosity margin contracted 70 foundation factors on-year to 4.2 per cent resulting from reversal of curiosity earnings on slippages.

The lender mentioned that slippages from the BB and beneath rated mortgage guide had been at 10 per cent within the earlier monetary 12 months nevertheless it expects to revert to regular development of 5-7 per cent in 2021-22.

The asset quality of enterprise loans deteriorated within the quarter to 1.85 per cent from 1.75 per cent 1 / 4 in the past on a professional forma foundation. At the identical time, the quality of retail books improved to 2.49 per cent from 2.82 per cent.

The lender registered a 26 per cent progress in deposits to Rs 73,121 crore however mortgage guide grew merely 1 per cent to Rs 58,623 crore. The muted mortgage progress efficiency was largely because of the 12 per cent decline in wholesale guide, whereas the retail mortgage guide surged 13 per cent.

Shares of RBL Bank ended 0.9 per cent increased at Rs 182.9 on the National Stock Exchange.

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