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Dolat Capital Report
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.
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