RBL Bank Q3 net profit jumps multi-fold to Rs 214 cr...

Key Highlights

• The bank’s managing director and chief executive R Subramaniakumar said the tweaks in deposit rates and a shift in advances book helped expand the margins, and added that it is expected to widen further in the upcoming quarters despite the 0.25 per cent rate cut by the RBI.
• The overall deposits grew 12 per cent during the quarter, he said, adding that on the lending front, it recorded an increase in unsecured book for the first time in many quarters.
• The bank is pushing credit card sales, despite experiencing elevated stress in the segment, he said.
• Subramaniakumar said he expects the stress on the credit card book to continue for two more quarters, while a senior bank official explained that the challenging macro environment is leading to difficulties for the bank and delaying resolutions on the older portfolio.
• Credit card and personal loans portfolio contributed Rs 574 crore of the Rs 909 crore of overall fresh slippages during the quarter, the bank said, adding that the overall number stood at Rs 925 crore in the year-ago period.