RBL Bank Ltd for the third quarter reported 86% drop in net profit at ₹33 crore for the period ended December 31, 2024 as compared with ₹233 crore in the same period last year.

This was on account of making additional provision of ₹414 crore on ‘prudent basis ‘ on Gross NPAs of Joint Liability Group (JLG)

portfolio taking total NPA provision on this portfolio to 85%.

Net Interest Income (NII) grew 3% YoY ₹1585 crore; NIM was at 4.90%.

During Q3 FY25, there was tax provision writeback of ₹150 crore due to favourable appellate orders for past years.

The bank’s net advances during the quarter grew 13% YoY to ₹90,412 crores

Total Deposits grew 15% YoY to ₹106,753 crore.

GNPA was down 20 bps YoY to 2.92%; NNPA was down 26 bps YoY to 0.53%. Overall Provision Coverage Ratio including Technical Write off was 93.46%.

R Subramaniakumar, MD & CEO, RBL Bank said, “We remain cautious about the short-term challenges emanating from macro-economic environment affecting certain unsecured lending segments. We continue to demonstrate strong growth in chosen areas of secured retail & commercial banking on asset side and granular deposits on liability side.”

“Our core business remains robust and disciplined focus on growth with profitability and customer-centric approach continues to drive meaningful progress. Overall, we are happy to deliver yet another quarter of robust operating performance and growth in business,” he added