RBL Financial institution Q3 revenue slips 69% to Rs 70 cr on rise in unhealthy loans; web curiosity revenue up 41% to 923 cr

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New Delhi: RBL Financial institution on Wednesday reported a 69 p.c dip in its web revenue at Rs 69.9 crore for the quarter ended 31 December 2019 on account of rise in unhealthy loans.

The  had registered a web revenue of Rs 225.20 crore in October-December interval of the earlier fiscal.

Nonetheless, complete revenue elevated to Rs 2,64,430 crore as towards Rs 1,029.20 crore for a similar interval 12 months in the past, the financial institution mentioned in a regulatory submitting.

 RBL Bank Q3 profit slips 69% to Rs 70 cr on rise in bad loans; net interest income up 41% to 923 cr

Representational picture. Reuters

Internet curiosity revenue was up 41 p.c to Rs 922.6 crore throughout the quarter as towards Rs 655.10 crore within the year-ago interval.

Asset high quality of the financial institution deteriorated with gross non-performing belongings (NPAs) rising to three.33 p.c of gross advances as on 31 December 2019 from 1.38 p.c within the year-ago interval.

Internet NPAs additionally rose to 2.07 p.c of web loans from 0.72 p.c within the corresponding quarter of 2018-19, the financial institution mentioned.

Consequently provisions (apart from tax) and contingencies rose considerably to Rs 638.29 crore from Rs 160.68 crore in the identical quarter a 12 months in the past.

Nonetheless, the online curiosity margin improved year-on-year foundation to 4.57 p.c within the reported quarter from 4.12 p.c.

The financial institution in a separate regulatory submitting mentioned it has authorised re-appointment of Rajeev Ahuja as the manager director for a interval of three years with impact from February 21, 2020, topic to the approval of the Reserve Financial institution of India (RBI).

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