Bank of India reports net profit of Rs.606 Cr for Q4FY22 and 1,350 Cr (up by 123%) for YOY.

MUMBAI, 7 MAY, 2023 (GPN): The Board of Directors of RBL Bank Limited approved the audited financial results for the quarter and year ended 31^st March 2023 at its meeting held on Saturday, 6^th May 2023.

Key highlights:

• Net Profit at Rs.1,350 Cr, up by 123% YOY.
• NIM (Global) improved from 2.56% in Mar’22 to 3.15% in Mar ’23.
• Return on Assets (RoA) at 0.63%, improved by 33 bps YOY.
• Return on Equity (ROE) at 13.52%, improved by 688 bps YOY.
• Cost to Income Ratio (CIR) at 51.48%, improved by 428 bps.
• CRAR at 16.28% with CET-1 ratio of 13.60%.
• Gross NPA ratio at 7.31%, down by 267 bps YOY.
• Net NPA ratio at 1.66% down by 68 bps YOY.
• Provision Coverage Ratio (PCR) at 89.68%.
• Slippage ratio at 0.64% and Credit Cost at 0.45%.
• RAM Advances grew by 12.29% YOY, accounting for 55.11% of Advances.
• Priority Sector advances at 43.28% of ANBC.
• CASA ratio improved to 44.73% in Mar’23 from 44.56% in Dec’22.

Profitability Q4FY23:

• Net Profit jumped by 123% YOY, which went up from Rs. 606 Cr in Q4FY22 to Rs.1,350 Cr for Q4FY23.
• Operating Profit went up by 69.67% YoY from Rs.2,466 Cr in Q4FY22 to Rs.4,184 cr in Q4FY23.
• Net Interest Income (NII) increased by 37.77% from Rs. 3,987 Cr in Q4FY22 to Rs. 5,493 Cr in Q4FY23.
• Non-Interest Income increased by 95.27% from Rs.1,587 Cr in Q4FY22 to Rs.3,099 Cr for Q4FY23, sequentially improved by 116% from Rs.1,432 Cr in Q3FY22.

Profitability FY23:

• Net Profit jumped by 18.15% YOY, which went up from Rs. 3,405 Cr in FY22 to Rs. 4,023 Cr for FY23.
• Operating Profit increased by 34.09% from Rs.9,988 Cr for FY22 to Rs. 13,393 Cr in FY23.
• Net Interest Income (NII) increased by 44.17% from Rs. 14,063 Cr for FY22 to Rs. 20,275 Cr in FY23.
• Non-Interest Income stood at Rs.7,100 Cr in FY23 against Rs.7,879 Cr for FY22.

Ratios Q4FY23:

• NIM (Global) improved from 2.56% in Mar’22 to 3.15% in Mar ‘23.
• NIM (Domestic) also went up from 2.90% in Mar’22 to 3.59% in Mar’23.
• Return on Assets (RoA) improved from 0.30% in Q4FY22 to 0.63% in Q4FY23.
• Return on Equity (RoE) improved from 6.64% in Q4FY22 to 13.52% in Q4FY23.
• Credit Cost improved from 1.10% in Q4FY22 to 0.45% in Q4FY23.

Global and Domestic Business Growth:

• Global Business increased by 9.27% YOY from Rs.10,84,910 Cr in Mar’22 to Rs.11,85,438 Cr in Mar’23.
• Global Deposits increased by 6.64% YOY and stood at Rs. 6,69,586 Cr.
• Global Advances increased by 12.87% YOY and stood at Rs. 5,15,852 Cr.
• Domestic Deposits increased by 2.95% YoY from Rs.5,50,833 Cr in Mar’22 to Rs.5,67,063 Cr in Mar’23.
• Domestic CASA went up by 2.72% YOY from Rs.2,45,464 Cr in Mar’22 to Rs.2,52,149 Cr in Mar’23 and CASA percentage stood at 44.73% in Mar’23
• Domestic Advances increased by 9.56% YOY from Rs.3,93,331 Cr in Mar’22 to Rs. 4,31,637 Cr in Mar’23.
• RAM advances increased by 12.29% YOY to Rs.2,37,884 Cr, constituting 55.11% of Advances in Mar’23.
• Retail Credit grew by 17.40% YOY to Rs.94,716 Cr in Mar’23.
• Agriculture Credit grew by 8.99% YOY to Rs.72,391 Cr in Mar’23.
• MSME Credit grew by 9.31% YOY to Rs.70,777 Cr in Mar’23.
• Overseas Deposits increased by 33.04% YOY to Rs. 1,02,523 Cr and Overseas Advances increased by 33.63% YOY to Rs. 84,215 Cr in Mar’23.

Asset quality:

• Gross NPA declined by 17.36% YOY from Rs. Rs. 45,605 Cr in Mar’22 to Rs.37,686 Cr in Mar’23.
• Net NPA declined by 18.25% YOY from Rs.9,852 Cr in Mar’22 to Rs.8,054 Cr in Mar’23.
• GNPA ratio declined from 9.98% in Mar’22 to 7.31% in Mar’23.
• Net NPA ratio declined from 2.34% in Mar’22 to 1.66% in Mar’23.
• Provision Coverage Ratio (PCR) stood at 89.68% in Mar’23 against 87.76% in Mar’22.

Priority Sector, Financial Inclusion & Digital Banking:

• Priority Sector Advances increased by 8.48% YOY and achieved 43.28% of ANBC as on Mar’23. Agricultural advances achieved the 19% of ANBC
• Advances to Small & Marginal Farmers achieved 11.23% of ANBC in Mar’23 against regulatory norm of 9%.
• Advances to Weaker Sections achieved 14.75% of ANBC in Mar’23 against regulatory norm of 11%.

Digital Banking:

• Internet Banking users: Increased to 8.46 million in Mar’23 from 8.08 million in Mar’22.
• Mobile Banking users: Increased to 8.03 million in Mar’23 from 6.11 million in Mar’22.
• UPI users: Increased to 15.57 million in Mar’23 from 12.99 million in Mar’22.Ends