India's RBL Bank falls on jump in Q3 slippages, profit drop

RBL Bank

20/01/2025 06:51

** RBL Bank  RATB.NS  falls as much as 5.8% to 146.10 rupees
    ** RATB saw ~28% q/q jump in Q3 slippages, or loans
classified as non-performing for the first time
    ** Q3 net profit plummets 86% y/y
    ** Funds for potential bad loans more than doubled in Q3,
eating into co's profit
    ** Nirmal Bang says slowdown in loan growth, compression in
margins and sharp rise in provisions led to sharp decline in
profit
    ** Eight brokerages, including Nirmal Bang, slash PT post
results, one raises - LSEG
    ** Current median PT 22.4% lower than last month's
    ** Stock fell 43.4% in 2024
    
($1 = 86.4825 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))