RBL Bank Q4 results: Standalone PAT jumps 30% YoY to Rs 353 crore

RBL Bank reported a net profit growth of 30% to Rs 353 crore for the quarter ended March 31, 2024 as against Rs 271 crore reported by the lender in the year ago period. The profit after tax (PAT) jumped 51% on the quarter-on-quarter basis versus 233 crore posted in the October-December quarter.

Total revenue for the reporting quarter grew 22% YoY and 7% QoQ to 2,475 crore.

Banks overall capital adequacy was reported at 16.18% with common equity Tier 1 ratio standing at 14.38%. The average liquidity coverage ratio is at 140%. The total provisions of the Bank include specific, general and contingent at 105% of GNPA.

The commercial banking grew 17% YoY to Rs 9,115 crore, the bank filing on Saturday said. The total customers stood at 1.55 crore versus 1.29 crore in Q4 FY23, an increase of 26.6 lakh.

As of March 31, 2024, the bank reported 1,817 total touchpoints of which 545 are bank branches and 1,272 business correspondent branches. Of 1272 BC branches, 297 are banking outlets. RBL Finserve Limited, a 100% subsidiary of the Bank, accounts for 952 business correspondent branches. 28 new Bank branches and 106 new BC branches added in FY24.

RBL Bank shares ended at Rs 266.30 on the NSE, down by Rs 3.35 or 1.27%.

Key highlights for Q4 FY24

• Operating profit growth of 49% YoY in Q4FY24 while the returns on assets (ROA) stood at 1.08%.
• Net advances grew 20% YoY with retail advances growing faster at 30% YoY. Net advances book stood at Rs 83,987 crore. On a sequential basis, the growth was 5%.
• Deposits grew 22% YoY to Rs 103,494 crore while QoQ growth was 12%. The granular deposits grew faster at 24% YoY. The CASA grew 15% YoY to Rs 36,448 crore. CASA ratio stood at 35.2%. The deposits less than 2 crore grew 24% YoY and 6% QoQ to Rs 43,753 crore; They were at 42.3% of the total deposits.
• Gross NPA (GNPA) improved 72 bps YoY to 2.65% while Net NPA (NNPA) improved 36 bps YoY to 0.74%. The PCR including technical write-off stood at 89.8%