RBL Bank Q4 Review – Earnings To Normalise By FY23E; Valuations Undemanding: Dolat Capital

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RBL Bank Ltd.’s Q3 earnings were impacted by high provisions led by elevated write-offs.

Other income benefitted from healthy recoveries from written-off accounts, aiding core pre-provision operating profit metrics which stood at 3.3%.

Net interest margin were stable QoQ at 4.2% after the impact of high interest reversal and compound interest waiver.

Pro-forma slippages at ~10.2% for Q4 FY21 and 5.4% for FY21 were on expected lines, with bulk of these (80%) coming from retail segment.

The credit card book contributed ~40% of slippages during the year, with cash credit/micro finance institution slippages for the fiscal at 12%/6% respectively.

Click on the attachment to read the full report:

Dolat Capital RBL Bank Q4FY21 Result Update.pdf


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