Hot Pursuit     05-Jan-23
RBL Bank gains after deposits rise by 11% YoY in Q3 FY23
RBL Bank advanced 1.50% to Rs 182.65 after the bank's total deposits increased by 11% to Rs 81,746 crore as on 31 December 2022 from Rs 73,639 crore recorded on 31 December 2021.

Retail LCR deposits amounted to Rs 34,733 crore (up 25% YoY) as on 31 December 2022.

CASA ratio was at 36.6% as on 31 December 2022 as against 34.4% as on 31 December 2021.

Liquidity coverage ratio (LCR) stood at 144% as on 31 December 2022. LCR as on 31 December 2021 was 146%.

The banks gross advances increased by 14% to Rs 68,371 crore as on 31 December 2022 from Rs 59,967 crore recorded on 31 December 2021.

RBL Bank said that the retail advances grew 12% YoY and 7% sequentially while wholesale advances grew 17% YoY and 5% sequentially for the quarter ended 31 December 2022. The mix of retail: wholesale advances was approx. 52:48.

The bank continues to focus on growing the share of granular retail deposits in the overall deposit mix, with retail deposits at approximately 42.5% as against 37.9% as of 31 December 2021.

RBL Bank is one of India's fastest growing private sector banks with an expanding presence across the country. As of 30 September 2022, the bank has 507 bank branches and 1,204 business correspondent branches, of which 289 are banking outlets. RBL Finserve, a 100% subsidiary of the bank, accounts for 821 business correspondent branches.

The bank reported a net profit of Rs 201.55 crore in Q2 FY23, steeply higher than Rs 30.80 crore posted in Q2 FY22. Total Income rose 7.5% to Rs 2,758.98 crore in Q2 FY23 as against Rs 2,567.65 crore recorded in the corresponding quarter previous year.

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