RBL Bank's Q2 net profit fell 24% to ₹223 crore due to credit card and microfinance slippages.
RBL Bank's net profit fell by 24% to ₹223 crore in the September quarter, impacted by asset quality issues related to credit cards and microfinance loans. Fresh slippages nearly doubled to ₹1,026 crore, primarily from credit cards. While net interest income rose 9% to ₹1,615 crore, the bank's net interest margin narrowed to 5.04%. Despite these challenges, overall capital adequacy stood at 15.92%.
October 19, 2024
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