RBL Bank ended FY23 with the highest quarterly and annual profit, posting a net profit of ₹271 crore for Q4, up 37 per cent y-o-y and 30 per cent q-o-q. For FY23, the profit after tax was 883 crore as against a loss of ₹75 crore for FY22.

Net advances of the bank grew 17 per cent y-o-y and 5 per cent q-o-q to ₹70,209 crore led by 21 per cent y-o-y and 8 per cent q-o-q rise in retail advances ₹37,778 crore, accounting for 46 per cent of the book.

Net Interest Income (NII) of the bank grew 7 per cent y-o-y and 5 per cent q-o-q to ₹ 1,211 crore. NIM for the quarter was at 5.01 per cent compared with 4.74 per cent in the previous quarter.

Total deposits were higher by 7 per cent y-o-y and 4 per cent q-o-q to ₹84,887 crore as of March 31, led by 18 per cent y-o-y and 4 per cent q-o-q to ₹36,319 crore. CASA ratio improved to 37.4 per cent from 35.3 per cent a year ago.

Gross NPA ratio improved to 3.4 per cent from 3.6 per cent a quarter ago and 4.4 per cent a year ago. The net NPA ratio at 1.1 per cent was also better than 1.2 per cent in the previous quarter and 1.3 per cent in the previous year.

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The capital adequacy ratio of the bank was 16.9 per cent, of which the CET-1 ratio was 15.3 per cent.

“We are confident of continuing this momentum into the next year. New initiatives undertaken in FY23 on new secured product launches, and scale-up of granular retail products are also starting to bear fruit. With the scale-up of these products and introduction of new products (both digital and branch based) in the coming year, we expect growth to become more broad-based,” said MD and CEO R Subramaniakumar.

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