Private sector lender RBL Bank Ltd on Tuesday reported a net profit of ₹75.3 crore for the three months to March, down 34% from the same period last year owing to lower net interest income and higher provisions. The bank’s total provisions stood at ₹766 crore in Q4 FY21, up 27.5% from the same period last year. Its net interest income (NII) or the difference between interest earned and expended declined 11% y-o-y to ₹906 crore in Q4 FY21. RBL Bank’s total deposits rose 26% y-o-y to ₹73,121 crore in Q4 FY21. Retail loans witnessed a growth of 13% in Q4 FY21 against the same period last year.

Source: Mint May 04, 2021 14:26 UTC