RBL Bank had posted a YoY fall of 86% in its net profit to ₹32.63 crore for Q3 FY25 on account of provisions and more. Its YoY growth also stood at an 85% fall from Q2. Gross NPA ratio improved at 2.92% by December 31, 2024 from 2.88% last quarter and bettered at 3.12% the previous year.
The net NPA ratio at 0.53% came in from 0.79% as in September 2024 and 0.80% at the end of December 2023. Gross NPAs stood at ₹2,701 crore for Q3 FY25 as compared to ₹2,581.08 crore in Q2 FY25, while net NPAs fell to ₹481.64 crore from ₹697.51 crore.
Provisions have doubled year over year at ₹1,189 crore in Q3 FY25 as against ₹458 crore in Q3 FY24 with additional provisions of ₹414 crore for the JLG portfolio taking coverage to 85%. Overall Provision Coverage Ratio, with technical write-offs stood at 93.46% and credit cost at 139 basis points.
Net Interest Income (NII) was up by 2.5% YoY at ₹1,585 crore in Q3 FY25. NIM stood at 4.90%. NII for nine months rose 10% YoY at ₹4,900 crore with NIM at 5.19%. Other income stood at ₹1,073 crore, which was up 38% YoY. Core fee income was up 19% YoY at ₹871 crore in Q3 FY25.
Total deposits increased 15% YoY to ₹1.07 lakh crore with CASA deposits up 12% YoY at ₹35,022 crore and CASA ratio at 32.8%. Total deposits below ₹3 crore expanded 20% YoY at ₹53,719 crore and accounted for 50.3% of the total.
Net advances rose by 13% YoY to ₹90,412 crore. Retail advances, driven mainly by increases, rose 19% YoY to ₹55,199 crore. The retail-to-wholesale advances ratio was 61:39. Housing loans rose 33% YoY, rural vehicle finance rose by 30%, and commercial banking advances were up by 21%.
JLG at -4% YoY and 6% QoQ. Credit card advances dipped 1% QoQ, personal loans decreased by 5% QoQ. The SMA bucket has come down to ₹545 crore for Q3 FY25 from ₹616 crore in Q2 FY25; that’s better asset quality Recoveries and technical write-offs coming out of the unsecured space have been done much better this time. RBL Bank also booked ₹144.15 crore on sale of a 10% stake in DAM Capital, an IPO of the latter.
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