RBL Bank climbs 5%, nears 52-week high as D-Street cheers good Q2 show
The lender reportedly has logged the best asset quality and return ratios in 16 quarters.
Shares of the private sector lender RBL Bank on Monday (October 23, 2023) zoomed 4.7 per cent to Rs 255.1, nearing its 52-week high of Rs 256.6. The sharp gains in the stock were triggered by the lender's quarterly results for the July-September period that were largely in line with Street estimates.
Net profit at the private banking major grew 46 per cent year-on-year basis to Rs 294 crore for the second quarter of the current financial year. The figure stood at Rs 201.55 crore for the corresponding period a year ago. The increase in the profit at the lender has been reported despite an increase in provisions by 2.65 times YoY during the period under review to Rs 640.4 crore.
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