RBL Bank's Sept qtr net drops 79% YoY to Rs 31 cr on higher provisions

NII was down 2% to Rs 915 crore, but other income rose 42% to Rs 593 crore, taking the lender's total income to Rs 1,508 crore, up 12% YoY

Private sector lender RBL Bank has reported a 79 per cent year-on-year (YoY) drop in net profit in the quarter ended September (Q2FY22) due to higher provisions. Its net profit stood at Rs 31 crore, missing street estimates, compared to Rs 144 crore in the same period a year-ago.

The bank's net interest income was down 2 per cent YoY to Rs 915 crore in the reporting quarter but other income rose 42 per cent in the same period to Rs 593 crore, taking the lender's total income up 12 per cent to Rs 1,508 crore.

The bank reported a