Saturday, February 22
Shares of RBL Bank fell as much as 5.9% on Monday to Rs 146 on the BSE after the lender reported an 86% year-on-year (YoY) decline in net profit to Rs 33 crore for the December quarter, down from Rs 233 crore in the same period last year, mainly due to issues in its microloan portfolio.The private sector bank, which has faced challenging quarters because of higher credit costs, reported a net profit of Rs 231 crore in the September quarter.The bank’s core net interest income increased by 3% YoY to Rs 1,585 crore, while other income rose by 38% to Rs 1,073 crore, boosted by the sale of its stake in NBFC DAM Capital.CEO and Managing Director R. Subramaniakumar explained that the net interest margin (NIM) fell to 4.90% from 5.52% a year ago, with 0.40% of this decline attributed to microfin
