While on one hand, rising infection rates added to uncertainty, on the other hand, as we transitioned to unlocking in large parts of the country we saw business activity pick up sharply in the second half of the quarter," RBL Bank MD and CEO Vishwavir Ahuja said.RBL Bank on Tuesday reported over 47 per cent decline in standalone net profit at Rs 141.22 crore in the first quarter ended June of the current fiscal year due to over two-fold jump in provisioning.The private sector bank had posted a net profit of Rs 267.05 crore in June quarter of preceding fiscal year ended March 2020, it said in a regulatory filing.Income rose to Rs 2,654.88 crore from Rs 2,566.86 crore in the year-ago quarter.Like us on Facebook to see similar storiesPlease give an overall site rating:"The continued slowdown is likely to increase customer defaults, requiring the bank to increase credit related provisions," RBL Bank said.On coronavirus pandemic and its impact, the bank said the continued slowdown has resulted in lower loan originations, trade and forex transactions, sale of third party products, use of credit and debit card by customers and efficiency in collection efforts.The bank’s advances were almost flat from a year ago at Rs 56,683 crore as on June 30.Average liquidity coverage ratio was at 164 per cent for the quarter, and current surplus liquidity was at Rs 13,600 crore, RBL Bank said.Provisioning for bad loans and contingencies more than doubled to Rs 500.16 crore from Rs 196.95 crore in June quarter of 2019-20.On a consolidated basis, the bank’s net profit fell 42 per cent to Rs 154.42 crore during June 2020 quarter as against Rs 265.42 crore a year ago.The bank has only one subsidiary company — RBL FinServe Ltd — which accounts for 661 business correspondent branches.In absolute terms, gross NPAs stood at Rs 1,992.07 crore at the end of first quarter of FY21 as against Rs 789.21 crore a year ago. RBL Bank on Tuesday reported over 47 per cent decline in standalone net profit at Rs 141.22 crore in the first quarter ended June of the current fiscal year due to over two-fold jump in provisioning. “Certainly, the environment over the last few days has raised concerns around stability of certain private sector banks after moratorium announcement on Yes Bank.However, as far as we are concerned, in anticipation we have been maintaining a significant … Sankarson Banerjee Chief Information Officer at RBL Bank. There are some state governments, which are very happy with us.” and they will make hell of your life. Net NPAs rose to Rs 932.68 crore from Rs 371.64 crore.Shares of the bank on Tuesday closed 1.71 per cent higher at Rs 181.85 apiece on the BSE.Net NPAs also deteriorated to 1.65 per cent from 0.65 per cent.However, the bank’s total income rose slightly to Rs 2,568.32 crore in April-June quarter of 2020-21 from Rs 2,503.88 crore in the year-ago quarter.While non-wholesale advances grew by 24 per cent year-on-year, wholesale advances came down by 18 per cent, in line with the bank’s planned portfolio re-calibration.On liquidity, the private sector lender said its overall capital adequacy ratio stood at 16.35 per cent, with common equity tier I ratio of 15.16 per cent at the end of June 2020. SASHANKA DASAKA. "The quarter was a mixed bag. It offers services across six verticals: corporate and institutional banking, commercial banking, branch and business banking, retail assets, development banking and financial inclusion, treasury and financial market operations. “We have taken accelerated 100% provisioning as opposed to norm of 70% after 90 days and then 30% after 180 days, on existing non-performing asset (NPA) book of credit card.” The bank has provided moratorium to around a third of its customers, RBL Bank MD & CEO Vishwavir Ahuja said in a conference call after results. "As a bank, we have achieved a robust set of numbers in this challenging business environment.

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