RBL Bank Q4FY22
RBL Bank's Q4FY22 net profit jumps 163 pc YoY to Rs 198 cr; NII grows 25 pc
Mumbai: RBL Bank Limited's Q4FY22 net profit surged by 163 percent year-on-year to Rs 198 crore compared to Rs 75 crore in the same quarter last year.
Net profit increased 27 percent sequentially compared to Rs156 crore in Q3FY22.
However, the bank reported a net loss of Rs 75 crore for the financial year 2022.
Net Interest Income (NII) grew 25 percent YOY to Rs 1,131 crore in the quarter under review.
NII for FY22 grew 6 percent YOY to Rs 4,027 crore for FY22. Net Interest Margin (NIM) for FY22 was 4.45 percent.
Total Revenue grew 13 percent YOY to Rs 1,643 crore for Q4FY22 and grew 12 percent YOY to Rs 6,367 crore for FY22.
Other Income was down 7 percent YOY to Rs 511 crore for Q4FY22 but grew 24 percent YOY to Rs 2,341 crore for FY22.
Cost to Income was 60 percent for Q4FY22 and 56.9 percent for FY22.
Operating profit was Rs 657 crore during the fourth quarter while it was Rs 2,745 crore for FY22.
The bank's total deposits grew 8 percent YOY to Rs 79,007 crore.
CASA (Current Account Savings Account) grew 20 percent YOY to Rs 27,879 crore.
CASA was ratio at 35.3 vs. 31.8 percent as of March 31, 2021.
Retail Deposits (as per LCR definition) grew 13 percent YOY to Rs30,717 crore
The liquidity coverage ratio (LCR) refers to the proportion of highly liquid assets held by financial institutions, to ensure their ongoing ability to meet short-term obligations.
Advances book grew 2 percent YoY and 3 percent sequentially to Rs 60,022 crore, the bank said, adding that the retail to wholesale ratio was 52:48.
Overall capital adequacy improved 25bps sequentially to 16.8 percent and Common Equity Tier 1 ratio improved 44bps sequentially to 16.2 percent.
The Average Liquidity Coverage Ratio for Q4FY22 stood at 138 percent.
On Asset quality, RBL Bank said its Gross NPA (GNPA) ratio and Net NPA (NNPA) ratio improved sequentially to 4.40 percent and 1.34 percent at the end of the quarter ended March 31, 2022, compared to 4.84% and 1.85%, respectively as at December 31, 2021.
Provision Coverage Ratio improved 750bps sequentially to 70.4 percent in the fourth quarter of FY22 against 62.9 percent at the end of the previous quarter.
As of March 31, 2022, the bank has 502 bank branches and 1,418 business correspondent branches, of which 289 are banking outlets.
RBL Finserve Limited, a 100 percent subsidiary of the Bank, accounts for 870 business correspondent branches.
Commenting on the performance, RBL Bank MD&CEO (interim) Rajeev Ahuja said, “This quarter has been one of stable business performance and we continued to improve in both profitability and asset quality.
"We are entering the new fiscal with a relatively clean slate on asset quality, remain well capitalised and our business operating rhythm holds us in good stead to grow meaningfully in our chosen segments with improved profitability metrics."
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