RBL Bank Gains 2% on Robust 13% YoY Deposit Growth

5 Jan 2024 , 02:27 PM

RBL Bank registers a nearly 2 % gain in early trade on January 5, driven by a robust 13 % YoY growth in total deposits, reaching Rs 92,743 crore.

The private sector lender reports notable growth in retail Liquidity Coverage Ratio (LCR) deposits, up by 16 % YoY, totaling Rs 41,209 crore.

Despite positive deposit growth, the Current Account Savings Account (CASA) ratio declines to 33.8 % in Q3FY24, down from 36.6 % YoY, as revealed in a business update filing.

Gross advances witness a substantial 20 % YoY growth, reaching Rs 81,870 crore. Within this, retail advances surge by 32 % YoY, while wholesale advances see a more modest 6 % YoY increase during the quarter.

RBL Bank’s financial results showcase a balanced expansion in its lending portfolio, with positive growth in total deposits and notable uptick in retail LCR deposits, despite a decrease in the CASA ratio.

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