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Financial Highlights of RBL Bank Limited

Posted On: 2019-04-18 13:00:38

The Board of Directors of RBL Bank Limited at its meeting held today, approved the audited financial results for the quarter and year ended March 31, 2019.

Performance highlights - Quarter ended March 31, 2019 (Q4 FY19):

- Net Interest Income (NII) at 738.7 crore as against 500.5 crore in Q4 FY18, an increase of 48%
- Other Income at 409.2 crore as against 312.0 crore in Q4 FY18, an increase of 31%
- Core fee income at 387.6 crore as against 270.4 in Q4 FY18, an increase of 43%
- Operating profit at 560.0 crore as against 383.1 crore in Q4 FY18, an increase of 46%
- Net profit at 247.2 crore as against 178.1 crore in Q4 FY18, an increase of 39%
- Net Interest Margin (NIM) at 4.23% as against 3.98% in Q4 FY18, an improvement of 25 bps
- Cost to Income ratio at 51.22% as against 52.85% in Q4 FY18, a decline of 1.63%
- Return on Assets (RoA) at 1.30% as against 1.25% in Q4 FY18
- Return on Equity (RoE) at 13.41% as against 10.90% in Q4 FY18

Performance highlights - Full Year ended March 31, 2019 (FY19):

- Net Interest Income (NII) at 2,539.5 crore as compared to 1,766.3 crore in the year ended March 31, 2018 ( FY18), registering an increase of 44%
- Other Income at 1,442.4 crore as against 1,068.2 crore in FY18, an increase of 35%
- Operating profit at 1.939.8 crore as against 1,331.1 crore in FY18, an increase of 46%
- Net profit at 867.0 crore as against 635.1 crore in FY18, showing an increase of 37%
- Net Interest Margin (NIM) at 4.14% as against 3.80% in FY18, showing an improvement of 34 bps
- Cost to Income ratio at 51.28% as against 53.04% in FY18, a decline of 1.76%
- Return on Assets (RoA) at 1.27% as against 1.21% in FY18
- Return on Equity (RoE) at 12.15% as against 10.95% in FY18
- Net Advances as at March 31, 2019 stood at 54,308.2 crore as compared to 40,267.8 crore as at March 31, 2018, a growth of 35%
- Gross NPA decreased to 1.38% as at March 31, 2019 against 1.40% as at March 31, 2018. Net NPA decreased to 0.69% as at March 31, 2019 against 0.78% as at March 31, 2018.
- Deposits as at March 31, 2019 stood at 58,394.4 crore as compared to 43,902.3 crore as at March 31, 2018, a growth of 33%
- Current Accounts & Savings Accounts (CASA) ratio improved to 24.98% as at March 31, 2019 from 24.32% as at March 31, 2018
- Capital Adequacy Ratio as per BASEL III Capital regulations as at March 31, 2019 was 13.46% against 15.33% as at March 31, 2018
- The bank has 324 branches as of March 31, 2019. In addition the Bank also has 993 business correspondent branches, of which 226 are banking outlets. RBL Finserve Limited ("RBL Finserve") (Formerly Swadhaar Finserve Private Limited), a 100% subsidiary of the Bank, accounts for 452 business correspondent branches

Asset growth and quality

The Bank's growth in advances portfolio continued to be robust at 35% on a year-on-year basis. The net advances as at March 31, 2019 were 54,308.2 crore as against 40,267.8 on March 31, 2018, with all-round growth observed in all business segments. The growth in the Corporate & Institutional segment and Commercial Banking (together termed as "Wholesale portfolio") was pegged at 25%, while that of other segments (Retail Assets and Development Banking & Financial Inclusion - together termed as ("Non-wholesale portfolio") was 49%. The nonwholesale portfolio constituted about 44% of the loan portfolio of the Bank as at March 31, 2019.

The gross NPA ratio has decreased to 1.38% as at March 31, 2019 from 1.40% as at March 31, 2018. The restructured standard assets portfolio has decreased to 0.04% as at March 31, 2019 from 0.08% as at March 31, 2018. The net NPA ratio has decreased to 0.69% as at March 31, 2019 from 0.78% as at March 31, 2018. The net stressed assets of the Bank have decreased to 0.73% as at March 31, 2019 from 0.86% as at March 31, 2018. The Bank's provisioning coverage ratio (including technical write-offs), improved to 65.30% as at March 31, 2019 as compared to 57.57% as at March 31, 2018.

Deposit growth

The Bank's deposits grew on 33% year on year basis with CASA growing faster at 37%. Deposits grew to 58,394.4 crore as at March 31, 2019 as against 43,902.3 crore as at March 31, 2018. CASA ratio increased to 24.98% as at March 31, 2019 compared to 24.32% as at March 31, 2018.

Capital adequacy

The Bank's capital adequacy ratio as at March 31, 2019 was 13.46% and Tier-1 capital adequacy ratio was 12.10%, significantly higher than the regulatory requirements.

Consolidated Financial Results

The consolidated net profit for the year ended March 31, 2019 was Rs. 857.83 crore as compared to Rs.631.69 crores, up 36%, over the previous year ended March 31, 2018.

Commenting on the performance Mr. Vishwavir Ahuja, MD & CEO, RBL Bank said "The year 2018-19 has been a challenging year for the banking sector. In this backdrop, I am happy to report that our Bank has continued to consistently maintain its strong growth momentum and improvement in operating metrics while maintaining robust asset quality. In our chosen segments the Bank continues to grow at a rapid pace towards reaching market leadership. We continue to see strong traction in customer acquisition and brand acceptance across all our businesses in our journey to be the "Bank of Choice" for our customers".

Shares of RBL Bank Ltd was last trading in BSE at Rs.680.95 as compared to the previous close of Rs. 668.2. The total number of shares traded during the day was 94648 in over 1742 trades.

The stock hit an intraday high of Rs. 683 and intraday low of 668.7. The net turnover during the day was Rs. 64251164.


Source: Equity Bulls

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