Bank does not foresee asset quality challenges, rumours baseless: RBL Bank

The bank's gross non-performing assets (NPAs) and net NPAs were 4.4% and 1.3%, respectively, at the end of the March quarter, with a provision coverage ratio of 70.4%

Private sector lender, RBL Bank, clarified on Tuesday that the appointment of R Subramaniakumar as its managing director and chief executive officer is not linked with any asset quality challenges for the bank in the future and that all rumors floating around the same are baseless and unfounded.

In a statement, the bank said, “There has been considerable speculation and rumours linking the appointment of the new MD & CEO of the Bank, Mr R S Kumar, with asset quality challenges for the bank in the near future. We wish to reiterate that such speculation is baseless and unfounded and