RBL Bank registered a 14% jump in gross advances during Q3 FY23
The company is primarily engaged in the business of providing a wide range of banking and financial services.
On Thursday, the shares opened at Rs 180.00 and made the day high at Rs 185.50. The previous day’s close of the shares was at Rs 179.95.
In comparison to the same quarter a year prior, RBL Bank recorded gross advances of Rs 68,371 crore (Provisional) in Q3FY23, representing a 14% increase. Gross advances increased 6% sequentially from the Rs 64,608 crore recorded in the September 2022 quarter. Additionally, the bank recorded total deposits of Rs 81,746 crore (Provisional) in Q3FY23, an increase of 3% from Q2FY23 and an increase of 11% YoY from Rs 73,639 crore in Q3FY22.
For the quarter ending December 31, 2022, wholesale advances increased 17% YoY and 5% sequentially, while retail advances increased 12% YoY and 7% sequentially. The ratio of advances to retail to wholesale was roughly 52:48. The Bank is still working to increase the proportion of granular retail deposits in the total mix of deposits; as of December 31, 2021, retail deposits (as defined by the LCR) were estimated to be 42.5%, up from 41.3% at the end of the previous quarter and 37.9% today.
RBL Bank is one of India's fastest-growing private sector banks having its presence across the country. The Bank provides specialised services under six business sectors, including Retail Assets, Treasury and Financial Markets Operations, Branch & Business Banking, Corporate & Institutional Banking, and Commercial Banking. Both NSE and BSE list RBL Bank (RBLBANK).
The 52-week high of the stock is Rs 187.60 whereas the 52-week low was Rs 74.15. The institutional and non-institutional holdings are 43.78% and 56.22%, respectively. Presently, the market cap of the company is stood at Rs 11,025.34 crore.
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