RBL Bank Soars Over 5% on Strong Q4 Update

4 Apr 2024 , 02:52 PM

RBL Bank’s shares increased 5.6% to Rs 156.7 in Thursday’s BSE trading after the lender said that deposits increased 22% year over year (YoY) during the quarter that ended in March, while advances increased 19% during the same time.

For the quarter that ended in March, the private lender reported deposits of ₹1,03,454 crore. Preliminary data indicates that this is a 12% increase from the previous quarter and a 22% increase from the same period last year.

Gross advances made by the bank during the quarter came to ₹85,640 crore, a 19% YoY growth and a 5% QoQ increase. Wholesale advances increased by 7% YoY for the quarter, while retail advances increased by 29% YoY. The wholesale segment saw a 17% YoY gain in commercial banking. The ratio of advances from retail to wholesale was around 58:42.

In Q4 FY25, the provisional CASA ratio was 35.2%, down from 37.4% in Q3 FY24.

The share was trading 0.8%% higher at ₹254.65 at 2:06 pm. The stock has increased by more than 80% in the past year, but it has decreased by more than 10% so far this year.

The average target price of the stock, according to Trendlyne data, is Rs 268. This represents a 5% increase over the current market values. Eighteen analysts have recommended ‘Hold’ for the stock.

Technically speaking, the stock’s relative strength index (RSI) is 54.7, indicating that it is not trading in either overbought or oversold zone. The MACD is below its middle line, at -5.4, indicating a bearish signal.

While trading below the 100-day SMA, RBL Bank stock was higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 150-day, and 200-day SMAs.

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