RBL Bank Q2 net profit falls

RBL Bank Q2 net profit falls

RBL Bank shares declined 15% Friday after it reported a 79% year-on-year decline in net profit to Rs 31 crore in the quarter ended September.
Its topline number, the net interest income (NII), which reflects the demand for the bank’s products also declined.
NII fell 1.8% from the corresponding quarter of the previous year to Rs 915.5 crore.
The net interest income is the difference between the interest the bank collects from borrowers and pays to depositors. However, its other income rose 42% to Rs 593 crore from a year ago.

The gross NPA ratio was at 5.40% versus 4.99% and the net NPA ratio stood at 2.14% versus 2.01% over the previous corresponding period.
The provision coverage ratio was at 76.6% as against 76.3% in the previous quarter this year and 74.8% in the second quarter last year, clocking a 1.8% on-year rise.

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