RBL Banks Shines On Strong Q3 Numbers

On 23^rd Jan, RBL Bank share price is trading above 19 points or 5 per cent, to touch the high and low of Rs. 393.50 and Rs. 382.10 respectively.

RBL Bank, the youngest listed bank in the country registered a 59 per cent rise in net profit in the quarter ended December on the back of an increase in both interest as well as non-interest income as it benefited from lower cost of funds.  Net profit rose to Rs 129 crore or Rs 3.27 per share in the quarter ended December compared to Rs 81 crore or Rs 2.60 per share a year earlier aided by a 45 per cent rise in net interest income and 66 per cent increase in fee income.

CEO Vishwavir Ahuja is of the view that the bank performed strongly because of strong demand for loans from companies and even as sectors like agriculture and micro finance which were affected by the demonetization of high value currency notes in November.  In spite of an overhang of the environment out wholesale loan book rose by 50 per cent and retail loans increased 48 per cent. Sectors like agriculture and micro finance were impacted in December but out collections were still at above 95 per cent, not very far from the average 99.5 per cent collections we see in normal times.

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