RBL Bank Quarterly Profit Triples
Indias RBL Bank reported a near threefold rise in second quarter profit on Monday driven by higher loan growth and foreign currency deposit inflows. Standalone net profit reached 4.82 billion rupees while asset quality improved with gross bad loans dropping.
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RBL Bank Ltd posted a standalone net profit of 4.82 billion rupees ($50.33 million) for the quarter ended September, nearly tripling from 1.79 billion rupees a year earlier. The strong performance in India was driven by higher loan growth and foreign currency deposit inflows. Net advances grew 42% year-on-year, bolstered by special central bank funding schemes.
