RBL Bank hits high on robust growth in its fourth quarter earnings

Share price of RBL Bank hit a fresh all-time high of Rs. 600 after posting stellar earnings growth in spite of higher provisions and weak asset quality performance. RBL bank’s stock gained 2.5% intraday today, 3 May 2017. Its revenue rose by 54% year-on- year to Rs 130.1 crore in the quarter ended March 2017.

The net interest income touched 46.6% to Rs. 352.2 crore in March quarter fiscal 2017, year-on- year, with loan growth of 39% and net interest margin at 3.5% Versus 3.2% year on year and 3.4% Quarter on Quarter. Deposits in March quarter increased 42% to Rs 34,588 crore compared with the corresponding quarter last year.

Non-interest income during the quarter spiraled 65.75% to Rs 236.55 crore and operating profit jumped 75.2% to Rs 281.75 crore compared with the corresponding quarter last year.

At 12.50 pm RBL Bank’s stock was quoting at Rs 593.75, up Rs 8.30, or 1.42 percent on the BSE

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