RBL Bank Q1 total deposits grow 18% YoY

RBL Bank informed that its total deposits jumped 18.35% to Rs 101,351 crore as on 30 June 2024 from Rs 85,636 crore recorded in 30 June 2023.

The bank continues to focus on growing the share of granular retail deposits in the overall deposit mix, with deposits below Rs 3 Crore constituting approximately 49.3% of the overall deposits of the bank as at 30 June 2024.

Total CASA rose 3% to Rs 32,996 crore as on 30 June 2024 as compared with Rs 31,927 crore recorded in 30 June 2023. CASA ratio reduced to 32.6% as on 30 June 2024 as against 37.3% reported in the same period a year ago.

 

Liquidity coverage ratio (LCR) stood at 137% as on 30 June 2024 as compared to 129% as on 30 June 2023.

The banks gross advances increased by 18% to Rs 88,455 crore as on 30 June 2024 from Rs 74,761 crore recorded in 30 June 2023.

RBL Bank said that retail advances grew 31% YoY while wholesale advances grew 2% YoY for the quarter ended 30 June 2024. Within wholesale, commercial banking advances grew 23% YoY. The mix of retail: wholesale advances were approximately 62:38.

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.

The private lender's standalone net profit jumped 30.1% to Rs 352.64 crore on 27.08% jump in total income to Rs 4,214.56 crore in Q4 FY24 over Q4 FY23.

The scrip slipped 2.29% to currently trade at Rs 260.15 on the BSE.

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