RBL Bank Announces its Financial Results for FY 2014-15

MUMBAI, May 14, 2015 /PRNewswire/ --

- Net Profit Increase of 124% in FY15* 

- Balance Sheet Growth of 49% in FY15 

- Stable Asset Quality - Gross NPA at 0.77% and Net NPA at 0.27% 

RBL Bank today announced its financial results for fiscal 2014-15 with a y-o-y balance sheet growth of 49% and a 4 year CAGR of 70%. As one of India's fastest growing scheduled commercial banks, it continued to gain momentum and recorded a strong performance in FY 2014-15.

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The Bank's Net Total Income surged by 59% to Rs. 960 Crores in FY15 from Rs. 603 Crores in FY14. Net Profit for the year was Rs. 207 Crores, an increase of 124% over the previous year*. Both Advances and Deposits grew by 47% y-o-y to Rs. 14,450 Crores and Rs. 17,099 Crores respectively as on March 31, 2015. The Gross and Net NPAs continued to remain satisfactory at 0.77% and 0.27%, respectively in FY 14-15.

The Bank's distribution network currently stands at 183 Branches and 351 ATMs.

Key Highlights of FY 2014-15:- 

• Net Profit for the year was Rs. 207 Crores, a y-o-y growth of 124%*
• Total Assets of Rs. 27,105 Crores as on March 31, 2015; y-o-y growth of 49%
• Net Advances stood at Rs. 14,450 Crores as on March 31, 2015; y-o-y growth of 47%
• Total Deposits stood at Rs. 17,099 crores as on March 31, 2015; y-o-y growth of 47%
• Net Interest Income for the year was Rs. 557 Crores, a y-o-y growth of 63%
• Non-Interest Income for the year was Rs. 403 Crores,a y-o-y growth of 55%
• CASA Deposits stood at Rs. 3,157 Crores (18.46% of Total Deposits) as on March 31, 2015; a y-o-y growth of 33%
• Yields on Advances for the year was 12.50% & Costs of Funds was 8.38%
• Return on Assets (RoA) for the year was 1.05%
• Gross and Net NPAs continue to remain satisfactory at 0.77% and 0.27% respectively
• Capital Adequacy Ratio stood at 13.13 %
• Priority Sector Advances and Investments of the Bank stood at Rs. 4,796 Crores as of March 31, 2015; a y-o-y growth of 68% and formed 47.86% of the Adjusted Net Bank Credit.
• The Bank has achieved the target of 40% under Priority Sector Lending as well as all sub sector targets for three years in a row including FY15.

(The financial results were approved at the meeting of the Board of Directors held on April 28, 2015)

Commenting on the results, Vishwavir Ahuja, Managing Director and CEO of RBL Bank, said, "The Bank has continued to deliver strong results across all its businesses in fiscal 14-15. During the year, the bank continued to improve and refine its operating and risk management frameworks with a plan to build a solid, scalable institutionalized banking franchise with a long term focus on mass banking (including financial inclusion)." Elaborating further, he said, "Our focus on technology, infrastructure and innovation has enabled us to improve the efficiency, reliability and competitiveness of our business operations."

*Without accounting for the one-off charge in FY14 towards premium paid for acquisition of certain businesses from Royal Bank of Scotland in India, the increase in net profit for FY15 is 56% 

About RBL Bank: 

RBL Bank (formerly known as The Ratnakar Bank Ltd.) is one of India's fastest growing scheduled commercial banks with an expanding pan-India presence, with over 183 branches and 351 ATMs spread across 13 states. The Bank has been recognized by the World Economic Forum as a Global Growth Company, 2014 and has also been awarded India's Best Bank (Growth) in the mid-sized bank segment by Business Today - KPMG for three consecutive years, FY12, FY13 and FY14.

Established in 1943, RBL Bank undertook a transformational journey under a new management team in 2010. It embarked on an aggressive growth plan based on a robust platform of professional governance, relationships, technology infrastructure, high quality capital and geographic expansion. Today, RBL Bank offers specialized services under five business verticals namely: Corporate & Institutional Banking, Commercial Banking, Retail Banking, Agri & Development Banking and Financial Markets. The Bank currently serves more than 14,00,000 customers and has a total business size of over Rs. 31,000 Crores. Over the last three years, some of the most notable global and domestic names have infused capital of over Rs. 1,500 Crores, taking TIER I capital to Rs. 2,200 Crores. (approx.). For more information, please visit www.rblbank.com

Media Contacts:
Abhijit Somvanshi
RBL BANK
T: +91 22-43020565 | M: +91 9920915158
E:[email protected]

Shwetha Thomas
RBL BANK
T: +91 22-43020546 | M: +91 9821287390
E:[email protected]

RBL Bank Ltd (Formerly The Ratnakar Bank Ltd) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares in the near future and is in the process of filing a draft red herring prospectus with the Securities and Exchange Board of India.