RBL Bank Fourth Quarter Profit Jumps Threefold
The private lender reported a net profit of 2.30 billion rupees as loan demand grew by 23 percent. Asset quality improved while provisions for bad loans fell.
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RBL BANK LTD reported a significant surge in its fourth-quarter financial results, with net profit tripling on the back of robust credit demand and improved asset quality across India. The private lender announced a standalone net profit of 2.30 billion Indian rupees ($24.41 million) for the period ending March 31, a sharp increase from the 687 million rupees recorded during the same quarter the previous year.
