RBL Bank profit up 28% to Rs 1.6 bn on rising income, asset quality worsens

Deposits for the quarter grew by 29% and advances were up 38%

Private-sector lender RBL Bank’s net profit for the quarter ended December 2017 rose by 28 per cent to Rs 1.65 billion (Rs 165 crore) backed by rising in net interest and other income. This was against a net profit of Rs 1.28 billion (Rs 128 crore) in the previous year’s corresponding quarter.

Net interest income rose by 45 per cent to Rs 4.67 billion (Rs 467 crore) during the September–December quarter, from Rs 3.21 billion (Rs 321 crore) in the same quarter a year ago. 

Other income comprising fees, commissions and treasury revenues was Rs 2.58 billion (Rs 258 crore)