Private sector lender RBL Bank on Thursday reported a net profit of Rs 114 crore in the fourth quarter ended March (Q4 FY20) compared to Rs 70 crore in the previous quarter (October to December), marking a 64 per cent growth sequentially but 54 per cent de-growth year-on-year from Rs 247 crore in Q4 FY19.
The total revenue for Q4 FY20 grew by 33 per cent year-on-year to Rs 1,522 crore while net interest income grew by 38 per cent to Rs 1,021 crore.
The net interest margin was 4.93 per cent. The cost to income for Q4 FY20 was at 49.7 per cent against 51.2 per cent for Q4 FY19 while operating profit for Q4 FY20 grew by 37 per cent year-on-year to Rs 765 crore.
The gross NPA ratio came at 3.62 per cent compared to 3.33 per cent in Q3 FY20) and net NPA was at 2.05 per cent as against 2.07 per cent in Q3 FY20). The provision coverage ratio was at 64.04 per cent (58.07 per cent in Q3 FY20.
Managing Director and CEO Vishwavir Ahuja said the bank has demonstrated strong growth in operating profits amid an unprecedented and challenging business environment.
"In this backdrop, we will continue to be cautious, conservative and focused on preservation of the franchise. As a bank, we will look to maintain surplus liquidity high capital levels, tighten risk filters further to manage and improve credit quality, and balance sheet protection."
A lot of this was already happening with the macro situation pre-COVID but the current environment has made it all the more important, said Ahuja.
"We continue to maintain healthy liquidity. Deposit traction is gaining momentum again and our deposits are now higher than March 31 levels and in excess of Rs 60,000 crore as of April end," he said in a statement.
RBL services nearly 85 lakh customers through a network of 386 branches, 1,245 business correspondent branches (of which 263 banking outlets) and 389 ATMs spread across 28 states and union territories.
( With inputs from ANI )