Mumbai: Private sector RBL Bank on Saturday reported a 29 per cent rise in its capital outlay. Net Profit It rose to Rs 372 crore in the June quarter. The bank's core net interest income grew 20 per cent to Rs 1,700 crore, while net profit grew 19 per cent. advance. its pure interest margin It was 5.67 percent.
Other income grew 18 per cent to Rs 805 crore.
bank deposits Development It grew at 18 per cent during the quarter and its Managing Director and Chief Executive Officer R Subramaniakumar attributed this to the company's differentiated offerings.
He added that incremental deposit growth would be able to complement the bank's incremental advances growth going forward.
On the front, he said the bank will focus on secured retail products like business loans and home loans going forward. Both of these grew cumulatively by 19 per cent, while housing grew by 52 per cent and rural auto by 74 per cent, he said.
From an asset quality perspective, it witnessed high stress and net slippage in the credit card portfolio stood at Rs 400 crore.
Of this, over Rs 60 crore came from the change in management of the portfolio from the co-brand partner to within the bank, the MD said, adding that the bank expects a part of it to recover and start performing well in a few quarters.
The overall gross non-performing assets ratio increased to 2.69 per cent from 3.22 per cent in the same period a year ago.
Microfinance disbursements had to be halted during the first two months of the quarter due to elections, but the situation is now returning to normal.
Its collection capacity has also declined in some areas, and it is expected to return to the same level in the future.
A senior bank official said that NIM will remain stable in the first two quarters and is expected to increase in the second half of the financial year.
Overall capital adequacy stood at 15.56 per cent, of which core buffer was 13.85 per cent. The MD said though it is approaching shareholders with an enabling provision to raise funds, there are no immediate plans to raise capital in the current fiscal.
Other income grew 18 per cent to Rs 805 crore.
bank deposits Development It grew at 18 per cent during the quarter and its Managing Director and Chief Executive Officer R Subramaniakumar attributed this to the company's differentiated offerings.
He added that incremental deposit growth would be able to complement the bank's incremental advances growth going forward.
On the front, he said the bank will focus on secured retail products like business loans and home loans going forward. Both of these grew cumulatively by 19 per cent, while housing grew by 52 per cent and rural auto by 74 per cent, he said.
From an asset quality perspective, it witnessed high stress and net slippage in the credit card portfolio stood at Rs 400 crore.
Of this, over Rs 60 crore came from the change in management of the portfolio from the co-brand partner to within the bank, the MD said, adding that the bank expects a part of it to recover and start performing well in a few quarters.
The overall gross non-performing assets ratio increased to 2.69 per cent from 3.22 per cent in the same period a year ago.
Microfinance disbursements had to be halted during the first two months of the quarter due to elections, but the situation is now returning to normal.
Its collection capacity has also declined in some areas, and it is expected to return to the same level in the future.
A senior bank official said that NIM will remain stable in the first two quarters and is expected to increase in the second half of the financial year.
Overall capital adequacy stood at 15.56 per cent, of which core buffer was 13.85 per cent. The MD said though it is approaching shareholders with an enabling provision to raise funds, there are no immediate plans to raise capital in the current fiscal.