Deepak Ruiya has been promoted to the position of deputy chief financial officer, effective from March 2023.
The bank had already announced the untimely death of Amrut Palan, who was the bank’s Chief Financial Officer (CFO). The bank is in the process of selecting a qualified candidate for the job of CFO.
Ruiya will be responsible for all responsibilities performed by a CFO in his capacity as deputy CFO. He would also be classified as a significant bank management personnel.
RBL Bank shares were down 0.36% at 166 on Monday, March 6, 2023. Due to Holi, the stock market was closed on Tuesday.
RBL Bank is a for-profit institution. It provides specialised services in five business segments: corporate and institutional banking, commercial banking, branch and business banking, retail assets, and treasury and financial markets operations. The bank has 516 bank branches and 1,168 business correspondent branches, of which 298 are banking outlets, as of December 31, 2022.
In Q3 FY23, the bank reported a 34% increase in net profit to Rs 209 crore on a 14% increase in total income to Rs 2,987 crore over Q3 FY22. Net interest income (NII) increased by 14% year on year to Rs 1,148 crore, while the net interest margin (NIM) was 4.74% during the review period.