How did RBL Bank managed to script a bakn success story in FY23 and later?

In the last few months, RBL Bank has been in the news for all the wrong reasons. However, this quarter, it showed some promise with net profits turning around to Rs201 crore in Q1FY23 from net loss of Rs459 crore in Q1FY22. Gross NPAs fell sequentially i.e. quarter on quarter from 4.40% to 4.08%.

Net NPAs were lower sequentially by 18 bps at 1.16%. The trigger to the profit boost was for provisions and contingencies which sharply fell yoy from Rs1,384 crore to Rs253 crore. In the last few years, RBL Bank has endured a lot of headwinds over the asset quality, management quality, corporate governance etc.