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RBL Bank Gains After Total Deposits Rise 5% in Q2

RBL bank net profit of Rs 201.16 crore compared to a net loss of Rs 459.47 crore Q1FY23.

RBL Bank advanced 3.78 per cent to Rs 122.15 after total deposits rose 5 per cent to Rs 79,407 crore on the last day of September FY23 from Rs 75,588 crore recorded on the last day of September FY22. Quarterly, the total deposits hit a low at 0.24 per cent compared with Rs 79,216 crore, posted on 30 June 2022.

On 30 September 2022, LCR deposits aggregated to Rs 32,804 crore, recording a growth of 4 per cent on a year as well as a quarterly basis. The liquidity Coverage Ratio was at 156 per cent in the second quarter of FY23, against 155 per cent in the second quarter of FY22 and 149 per cent in the first quarter of FY23.

In the last month, CASA stood at Rs 28,718 crore, registering a growth of 7 per cent yearly and 1 per cent every quarter. The CASA ratio improved to 36.2 per cent in the second quarter of FY23 compared with 35.4 per cent in the second quarter of FY22 and 36 per cent in the first quarter of FY23. Gross Advances stood at Rs 64,677 crore in the last month, recording a growth of 12 per cent yearly and 4 per cent every quarter. Retail advances grew 5 per cent yearly and 6 per cent. Meanwhile, wholesale advances grew 20 per cent every year and 2 per cent at the end of the second quarter. 

As of 31 March 2022, the bank had 502 branches and 1,302 business correspondent branches, of which 289 were banking outlets. RBL Finserve, a 100 per cent subsidiary of the bank, accounted for 789 business correspondent branches.

On a consolidated basis, the RBL bank had reported a net profit of Rs 201.16 crore compared to a net loss of Rs 459.47 crore in the first quarter of FY23 over the first quarter of FY22. Total income rose marginally to Rs 2,702.91 crore in the first quarter of FY23 from Rs 2,679.19 crore in the first quarter of FY22.

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