RBL Bank Q4 Audited Financial results, FY24

The Board of Directors of RBL Bank Limited approved the audited financial results for the quarter and year 31st March 2024 at its meeting held on Saturday, 27th April 2024.

RBL Bank Q4 Audited Financial results, FY24

New Delhi: Net Profit grew 30% YoY & 51% QoQ to Rs 353 crore.  Operating profit grew 49% YoY & 16% QoQ to Rs 887 crore. The bank has shown Steady Deposits Growth, with increased growth on Granular Retail Deposits and Total Deposits grew 22% YoY & 12% QoQ to Rs 103,494 crore. CASA grew 15% YoY to Rs 36,448 crore. CASA ratio stood at 35.2%.

Net Advances grew 20% YoY, Retail Advances grew faster at 30% YoY.  As per RBI directions dated 19th December 2023; Bank had created a contingent provision of Rs 115 crore on AIF investments in Q3 FY24. This financial year, operating profit grew 38% YoY to Rs 3,031 crore.

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Retail Disbursements for FY24 was Rs 21,909 crore vs Rs 12,903 crore for FY23, of which Rs 7,478 crore was towards new secured retail products in FY24.

The gross NPA ratio improved to 2.65% vs 3.37% as of 31st March 2023, improved by 72 bps in a year. Net NPA ratio improved to 0.74% vs. 1.10% as of 31st March 2023, improved by 36 bps in a year.

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