Net interest income (NII) grew by 14% YoY to Rs 1,148 crore while the net interest margin (NIM) was 4.74% during the period under review.

Operating Profit fell by 10% to Rs 567 crore in Q3 FY23 from Rs 631 crore in Q3 FY22.

Provisions amounted to Rs 293 crore in the third quarter, down by 31% from Rs 424 crore recorded in the same period last year.

Total deposits grew by 11% YoY to Rs 81,746 crore while net advances book grew 15% YoY to Rs 66,684 crore as on 31 December 2022. CASA ratio at 36.6% as on 31 December 2022 as against 34.4% as on 31 December 2021.

On the asset quality front, gross NPA ratio improved to 3.61% as of 31 December 2022 as compared with 3.80% as of 30 September 2022. Net NPA ratio was 1.18% as on 31 December 2022 as against 1.26% as of 30 September 2022.

Provision coverage ratio, including technical write offs, was 84.7% as of 31 December 2022 as against 84.3% as of 30 September 2022.

Overall capital adequacy (including 9M FY23 profits) was 17% and Common Equity Tier-1 ratio was 15.5% as on 31 December 2022. Average liquidity coverage ratio was at 144%.

R Subramaniakumar, MD & CEO, RBL Bank said: "We have had another quarter of improving operating performance and we are confident of continuing this trend in coming quarters.

Our business growth, driven by granular advances and deposits growth, continues to improve, in line with our strategy and execution. Our initiatives over the last six months on new product launches and scale up of granular retail products are also starting to bear fruit. As these products scale up, we expect growth to become more broad based.

Our asset quality and capital position continues to be healthy giving us the runway to accelerate profitable growth of the balance sheet."

RBL Bank is one of India's leading private sector banks with an expanding presence across the country. The bank offers specialized services under five business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets and treasury and financial markets operations. As of 31 December 2022, the bank has 516 bank branches and 1,168 business correspondent branches, of which 298 are banking outlets.

The scrip advanced 1.58% to end at Rs 169.90 on the BSE.