Rbl Bank Announces Audited Financial Results For the Quarter and Year Ended 31st March 2023
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The Board of Directors of RBL Bank Limited approved the audited financial results for the quarter and year ended 31 st March 2023 at its meeting held on Saturday, 29 th April 2023.
Results Summary for Q4FY23 and FY23
Highest Quarterly and Annual Net Profit:
* Net Profit grew 37% YOY & 30% QOQ to `271 crore for Q4 FY23; Net Profit for FY23 was `883 crore vs Loss of `75 crore for FY22
* ROA of 1.00% vs 0.78% for Q3 FY23
* Operating profit was `594 crore
* Total Revenue grew 15% YOY and 7% QOQ to `1,885 crore
* Net Interest Income grew 7% YOY and 5% QOQ to `1,211 crore; NIM was 5.01% vs 4.74% for Q3 FY23
* Other Income grew 32% YOY and 9% QOQ to `674 crore o Cost to Income was 68.5%
CASA and Deposits Growth:
* CASA grew 14% YOY and 6% QOQ to `31,717 crore. CASA ratio at 37.4% vs. 35.3% as at 31st March 2022
* Total deposits grew 7% YOY and 4% QOQ to `84,887 crore
* Retail Deposits (as per LCR definition) grew 18% YOY and 4% QOQ to `36,319 crore
Advances Growth:
* Net Advances book grew 17% YOY and 5% sequentially to `70,209 crore o Retail Advances book grew 21% YOY and 8% sequentially to `37,778 crore
* Retail disbursement for Q4 FY 23 at `4,391 crore against the disbursement of `2,685 crore in Q3 FY 23
* Retail: Wholesale mix at 54:46 o Housing loans grew 86% YOY; Rural vehicle finance crossed the `1000 crore mark milestone
* Bank introduced new retail asset products like Gold loan, Working capital/ term loan for MSME, Vehicle loans etc. in the last financial year
* 5.5 Lakhs credit cards issued in this quarter; Total cards outstanding at 4.4mn
* Total customers grew to 12.91mn, an increase of 16% in the last financial year
Well capitalized with sound liquidity:
* Overall capital adequacy was 16.9% and Common Equity Tier 1 ratio was 15.3%
* Average Liquidity Coverage Ratio at 126%
Asset quality:
* Gross NPA ratio improved to 3.37% vs. 3.61% as at 31 st Dec 2022 and 4.40% as at 31st March 2022, improved by 103 bps over FY 22
* Net NPA ratio improved to 1.10% vs. 1.18% as at 31 st Dec 2022 and 1.34% as at 31st March 2022, improved by 24 bps over FY 22
* Provision Coverage Ratio including technical write offs was 85.0% vs 84.7% as at 31 st Dec 2022
* Credit cost 29 bps against 39 bps in Q3 FY 23 and 71 bps in in Q4 FY22; Credit cost at 149 bps in FY 23, 70% lower than FY 22
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