Retail Portfolio Driving Overall Growth, Says RBL Bank’s Rajeev Ahuja
RBL Bank Ltd.’s retail portfolio is driving overall growth and profitability, said its Executive Director Rajeev Ahuja.
RBL Bank Ltd.’s retail portfolio is driving overall growth and profitability, said its Executive Director Rajeev Ahuja.
The lender’s net profit grew 35.8 percent year-on-year to Rs 204.5 crore. Its retail arm—which comprises the cards business and business and micro-finance lending units—grew 43 percent in the quarter ended September.
“Our retail business is structured to grow higher and we see no incipient signs of stress related to what’s happening around us,” Ahuja said in an interaction with BloombergQuint. “We run a very tight risk analytics framework for all our retail segments.”
The bank, in the near future, isn’t keen on inorganic growth through acquisitions or capitalising on liquidity tightening in the non-banking segment, Ahuja said.
Other Highlights (Quarter-on-Quarter)
- Net interest income rose 41 percent yearly to Rs 593 crore.
- Net interest margin at 4.08 percent versus 4.04 percent.
- Gross NPA unchanged at 1.40 percent.
- Net NPA at 0.74 percent versus 0.75 percent.
The stock fell one percent to Rs 464.90 per share today after the earnings announcement.