RBL Bank Q2 net profit down 24% on credit card, MFI exposures stress

RBL Bank reported a 24% decline in net profit to Rs 223 crore in the September quarter, mainly due to asset quality challenges in its credit card and microlending books. The bank expects credit card challenges to stabilize by Q3, while microfinance issues may persist longer.

Oct 19, 2024 - 18:30

RBL Bank Q2 net profit down 24% on credit card, MFI exposures stress

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RBL Bank reported a 24% decline in net profit to Rs 223 crore in the September quarter, mainly due to asset quality challenges in its credit card and microlending books. The bank expects credit card challenges to stabilize by Q3, while microfinance issues may persist longer.