RBL Bank net declines 34% in Q4 on higher provisions, drop in NII

Private sector lender RBL Bank has reported a 34 per cent drop in net profit in the March quarter of FY21 due to higher provisions and a drop in net interest income (NII). Its profit after tax for the reporting quarter stood at Rs 75 crore against Rs 114 crore in the year-ago period. The operating profit of the bank, however, was up 17 per cent year-on-year (YoY) to Rs 877 crore.
 
The banks’ NII was down 11 per cent YoY in Q4FY21 to Rs 906 crore but other income was up 38 per cent to Rs 688 crore.