RBL Bank reported an 11% increase in profit to Rs 233 crore in Q3 FY24, driven by growth in interest income and a decline in bad loans. Total income also rose.
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New Delhi, Jan 19 (PTI) Private sector RBL Bank on Friday reported an 11 per cent increase in its profit to Rs 233 crore in the third quarter ended in December 2023.
The bank had earned a net profit of Rs 209 crore in the same quarter a year ago.
Total income increased to Rs 3,969 crore during the quarter under review against Rs 3,116 crore in the same period last year, RBL Bank said in a regulatory filing.
Interest income of the bank also improved to Rs 3,191 crore during the quarter compared to Rs 2,498 crore in the same period a year ago.
The bank's gross Non-Performing Assets (NPAs) declined to 3.12 per cent of the total loans at the end of December 2023 from 3.61 per cent a year ago.
Net NPAs or bad loans also came down to 0.80 per cent from 1.18 per cent at the end of the third quarter of the previous fiscal.
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