Mumbai-based private lender RBL Bank on Friday announced its preliminary results for the quarter ended September 30, 2024, showing solid growth in both deposits and advances.
The bank’s total deposits stood at Rs 1,08,028 crore, up 20% year-on-year and 7% quarter-on-quarter, exchange filings showed.
Gross advances, which represent total advances to customers, increased to Rs 89,786 crore. This reflects a 15% year-over-year increase and a 2% increase from the previous quarter.
Retail advances, which are loans to individual customers, showed particularly strong growth, increasing 24% year-on-year. By contrast, wholesale advances, which are large loans typically given to businesses, rose 3%. The ratio of retail to wholesale business was approximately 62:38.
The bank has also seen an increase in deposits of less than Rs 3,000 crore, accounting for about 48.3% of total deposits. Current and savings account (CASA) deposits, which are funds generally held in more stable accounts with lower interest rates, grew 13% year-on-year to Rs 36,221 crore.
RBL Bank’s CASA ratio, which indicates the percentage of stable deposits, improved slightly to 33.5%. The liquidity coverage ratio, which measures banks’ ability to meet short-term obligations, averaged 129% during the quarter.
RBL Bank said in a statement that it will release official financial results for the quarter at a later date.
The company’s stock price ended 0.9% lower at 197.38 ₹ on Friday.
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First Published: October 4, 2024 8:07 PM IST
