Profit before tax was at Rs 359.08 crore in Q4 FY23, recording a growth of 40% year on year.

Net interest income grew by 7% YoY to Rs 1,211 crore in Q4 FY23, while net interest margin (NIM) reduced to 5.01% in Q4 FY23 as compared to 5.04% posted in Q4 FY22.

Operating profit slipped 10% to Rs 594 crore in Q4 FY23 as against Rs 657 crore reported in the same period last fiscal.

Provisions (other than tax) amounted to Rs 235 crore during the quarter, down by 41% from Rs 401 crore recorded in Q4 FY22.

The bank's return on assets (RoA) and return on equity (RoE) improved to 1% and 8.11%, respectively in the quarter ended 31 March 2023.

On full year basis, the private sector bank reported a net profit of Rs 882.73 crore in FY23 from a net loss of Rs 74.74 crore posted in FY22.Total income rose 10.5% to Rs year on year to Rs 11,619.28 crore in FY23.

On the asset quality front, gross non-performing assets (NPAs) stood at Rs 2,41,986 crore as on 31 March 2023 as against Rs 2,46,868 crore as on 31 December 2022 and Rs 2,72,839 crore as on 31 March 2022.

The GNPA ratio improved to 3.37% as on 31 March 2023 as against 3.61% as on 31 December 2022 and 4.40% as on 31 March 2022. The net NPA ratio improved to 1.10% as on 31 March 2023 as compared to 1.18% as on 31 December and 1.34% as on 31 March 2022.

Total deposits grew by 7% YoY to Rs 84,887 crore while net advances book jumped 17% YoY to Rs 70,209 crore as on 31 March 2023.

CASA deposits increased by 14% YoY to Rs 31,717 crore as on 31 March 2023 from Rs 27,879 crore as on 31 March 2022. CASA ratio improved to 37.4% as on on 31 March 2023 as compared to 35.3% reported in the same period last year.

Provision coverage ratio, including technical write offs, was 85% as of 31 March 2023 as against 83.4% as of 31 March 2022. Provision coverage ratio stood at 68.1% as on 31 March 2023.

Overall capital adequacy was 16.9% and Common Equity Tier 1 ratio was 15.3% as on 31 March 2023. Average liquidity coverage ratio came in at 126%.

Total customers grew to 12.91 million, an increase of 16% in the last financial year.

Meanwhile, the bank's board has recommended a dividend of Rs 1.50 per equity share for the financial year 2022-23, subject to the approval of the shareholders of the Bank at their ensuing Annual general meeting.

R Subramaniakumar, MD&CEO, RBL Bank said, “Our business growth, driven by granular advances and deposits growth, continues to improve, in line with our strategy and execution. New initiatives undertaken in FY23 on new secured product launches, and scale up of granular retail products are also starting to bear fruit. With the scale-up of these products and introduction of new products (both digital and branch based) in the coming year, we expect growth to become more broad based. Our asset quality parameters have further improved and capital position continues to be healthy giving us the runway to accelerate sustainable profitable growth.”

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 March 2023, the bank has 517 bank branches and 1,166 business correspondent branches, of which 298 are banking outlets.

Shares of RBL Bank slipped 3.93% to Rs 155.40 on the BSE.