A branch of Chennai-based RBL Bank. File
| Photo Credit: Bijoy Ghosh
Chennai-based Repco Bank Ltd (RBL) has set itself a credit growth target of ₹21,750 crore for FY25, said its Managing Director (i/c), O.M. Gokul.
RBL is prepared to march ahead with a strong sense of purpose towards building a strong and sustainable performance over the next few years with repatriate rehabilitation as prime objective, he said in a statement.
According to him, the bank performed remarkably well across all parameters in FY24 with total income crossing ₹1,000 crore, while net profit grew to ₹70 crore from ₹67 crore. Net worth rose to ₹850 crore from ₹829 crore.
The bank’s Gross Non-Performing Assets declined from 9.43% to 8.46% and Net Non-Performing Assets dropped from 4.18% to 3.67% due to strong and prudent recovery measures. Cash recovery was more than fresh slippages. The bank aims to further reduce NPA during FY25.
RBL reported a business mix of ₹19,500 crore against ₹17,746 crore in the year ago period. The total deposits increased by 11% to ₹10,582 crore and gross advances increased by 10% to ₹9,053 crore.
The board recommended a dividend of 25%.
