RBL Bank’s total provisions trebled on a year-on-year (y-o-y) basis and stood at ₹614 crore in Q4 F Private sector lender RBL Bank Ltd on Thursday reported a 54% decline in its March quarter net profit to ₹114.3 crore on the back of higher provisions.
Its profits were lower than ₹115.4 crore estimated by a Bloomberg poll of nine analysts. The bank’s total provisions trebled on a year-on-year (y-o-y) basis and stood at ₹614 crore in Q4 FY20.
It holds ₹107.95 crore of provisions in excess of what RBI has mandated for covid-19 related moratorium. “We have identified sectors like airlines, real estate, auto and entertainment which are likely to be most impacted by covid-19.