RBL Bank profits after total deposits increased by 5 per cent YoY in Q2

RBL Bank

RBL Bank’s share price surged 3.78 per cent to Rs 122.15 as the private lender’s total deposits increased 5 per cent to Rs 79,407 crore on September 30, 2022, up from Rs 75,588 crore on September 30, 2021.

Total deposits fell 0.24 per cent quarter on quarter (QoQ) compared to Rs 79,216 crore recorded on 30 June 2022.

The bank’s retail LCR deposits totaled Rs 32,804 crore as of 30 September 2022, representing a 4 per cent YoY and QoQ increase. In Q2 FY23, the liquidity coverage ratio was 156 per cent, compared to 155 per cent in Q2 FY22 and 149 per cent in Q1 FY23.

CASA stands in Rs 28,718 crore as of 30 September 2022, representing a 7 per cent YoY and 1 per cent QoQ increase. The CASA ratio increased to 36.2 per cent in Q2 FY23, up from 35.4 per cent in Q2 FY22 and 36 per cent in Q1 FY23.

Gross Advances amounted at Rs 64,677 crore as on 30 September 2022, up 12 per cent year on year and 4 per cent quarter on quarter. For the quarter ending 30 September 2022, retail advances increased by 5 per cent year on year and 6 per cent sequentially, while wholesale advances increased by 20 per cent year on year and 2 per cent consecutively. The retail: wholesale advance ratio was roughly 52:48.

The bank stated that it is continuing to work on increasing the percentage of granular retail deposits in the total deposit mix, with retail deposits (as defined by the LCR) at about 41.31 per cent, up from 39.65 per cent at the end of the previous quarter.

RBL Bank is one of India’s fastest growing private sector banks, with a nationwide presence. The bank has 502 branches and 1,302 business correspondent branches as of March 31, 2022, of which 289 were banking outlets. RBL Finserve, the bank’s wholly owned subsidiary, was responsible for 789 business correspondent branches.

The bank posted a standalone net profit of Rs 201.16 crore in Q1 FY23, compared to a net loss of Rs 459.47 crore in Q1 FY22. Total income increased slightly from Rs 2,679.19 crore in Q1 FY22 to Rs 2,702.91 crore in Q1 FY23.

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