Tuesday, August 16, 2022
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RBL Bank posts net profit of Rs 201 cr in Q1, asset quality improves

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Private lender RBL Bank reported net profit of Rs 201 crore in the June quarter as against net loss of Rs 459 crore in the year-ago period.

The gross Non-Performing Assets (NPAs) of the bank declined to 4.08% of the gross advances as of June 30, 2022, from 4.4% registered in March qurter, it said in a stock exchange filing on Thursday.

Net NPAs too eased to 1.16% from 1.34% witnessed in Q4FY22.

As a result, the bank’s provisions and contingencies fell to Rs 253 crore as compared to Rs 1,384 crore in Q1FY22.

On Thursday, the bank’s scrip on NSE closed trading nearly 4% higher at Rs 95.

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