Hot Pursuit     05-Oct-23
RBL Bank Q2 deposits rises 13% YoY to Rs 89,774 cr
RBL Bank reported 13% increase in total deposits to Rs 89,774 crore as on 30 September 2023 from Rs 79,404 crore recorded on 30 September 2022.
Retail liquidity coverage ratio (LCR) deposits amounted to Rs 39,696 crore (up 19% YoY) as on 30 September 2023.

CASA ratio was at 35.7% as on 30 September 2023 as against 36.2% as on 30 September 2022.

Liquidity coverage ratio (LCR) stood at 142% as on 30 September 2023 as compared to 156% as on 30 September 2022.

The banks gross advances increased by 21% to Rs 78,186 crore as on 30 September 2023 from Rs 64,608 crore recorded on 30 September 2022.

RBL Bank said that retail advances grew 34% YoY while wholesale advances grew 7% YoY for the quarter ended 30 September 2023. The mix of retail:wholesale advances was approximately 58:42.

The bank added that it continues to focus on granular retail deposits in the overall deposit mix, with retail deposits (as per LCR definition) at approximately 44.2% as of 30 September 2023 as against 42% as of 30 September 2022.

RBL Bank is one of India's leading private sector banks with an expanding presence across the country. The bank offers specialized services under five business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets and treasury and financial markets operations. As of 30 June 2023, the bank has 520 bank branches and 1,115 business correspondent branches, of which 298 are banking outlets and 414 ATMs spread across 28 Indian states and Union Territories.

The bank reported a 43.2% jump in standalone net profit to Rs 288.11 crore on 24.5% increase in total income to Rs 3,365.26 crore in Q1 FY24 over Q1 FY23.

Shares of RBL Bank declined 0.56% to Rs 248 on the BSE.

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