RBL Bank Q1 FY25: Net interest income up by 19.5%, net profit grew 29%

RBL Bank Q1 FY25 results: Private bank RBL Bank has reported that its net profit grew by 29% to Rs 371.5 crore y-o-y in its financial performance for first quarter of FY25. Its net interest income (NII) was up 19.5% to Rs 1,699.9 crore as compared to Rs 1,422.3 crore in the same quarter last fiscal year.

The bank's gross non-performing assets (NPA) increased slightly to 2.69% from 2.65% in the previous quarter. Meanwhile, RBL Bank's net NPA remained stable at 0.74%.

Other highlights

o Operating profit grew 33% YoY to `859 crore
o Total Revenue grew 19% YoY to `2,505 crore
o Net Interest Income grew 20% YoY to `1,700 crore; NIM was 5.67%
o Other Income grew 18% YoY to `805 crore
o Core Fee Income grew 20% YoY to `769 crore
o Cost to Income was 65.7% vs 69.3% for Q1 FY24, down 357 bps YoY
o Net Profit grew 29% YoY to `372 crore;
o ROA was 1.14% vs 1.01% for Q1 FY24;
o Total Deposits grew 18% YoY to `101,352 crore
o CASA grew 3% YoY to `33,003 crore. CASA ratio at 32.6%
o Deposits less than `3 crore grew 25% YoY & 5% QoQ to `49,980 crore; at 49.3% of total deposits
o Net Advances book grew 19% YoY to `86,704 crore
o Retail Advances book grew 31% YoY and 9% sequentially to `53,737 crore
o Retail: Wholesale advances mix at 62:38
o Retail disbursement for Q1 FY25 at `4,152 crore
o Housing loans grew 52% YoY; Rural vehicle finance grew 74% YoY
o Commercial Banking grew 25% YoY
o Total customers at 15.90mn vs 13.65mn in Q1 FY24, an increase of 2.25mn
o Overall capital adequacy including Q1 FY25 profits was 15.56%; Common Equity Tier 1 ratio was 13.85%
o Average Liquidity Coverage Ratio at 137%
o Gross NPA ratio improved to 2.69% vs 3.22% as at 30th June 2023, improved by 53 bps in a year
o Net NPA ratio improved to 0.74% vs. 1.00% as at 30th June 2023, improved by 26 bps in a year
o Provision Coverage Ratio including technical write offs was 90.0% vs 85.9% as at 30th June 2023, improved 414 bps in a year
o Credit cost at 59bps
o The total provisions of the Bank including specific, general and contingent at 105% of GNPA 

R Subramaniakumar, MD & CEO, RBL Bank, said, “We are pleased to report another period of stable financial performance. Our performance continues to track our stated goals, with our execution starting to deliver promising outcomes. We are seeing early results from our strategic initiatives.”