RBL Bank Q3 net up 6% to Rs 156 cr on lower provisions, robust NII

Profit number beats Bloomberg estimate of Rs 75.7 crore. Sequentially net profit was up 5x

Private sector lender RBL Bank’s net profit jumped six per cent to Rs 156.10 crore in the October–December quarter (Q3FY22), aided by lower provisions and healthy growth in net interest income (NII). Net profit in the reporting quarter beat street estimates as analysts at Bloomberg had estimated a net profit of Rs 75.7 crore. Sequentially net profit jumped 5 times as the bank had reported Rs 30 crore as net profit in Q2FY22 due to higher provisions.

NII, the difference between interest earned and interest expended, of the bank grew 11 per cent year-on-year (YoY) to Rs 1,010 crore in