Shares of RBL Bank Ltd will be in focus on Friday morning after the private bank post market hours of January 4 said its advances for the December quarter grew 20 per cent provisionally to Rs 81,870 crore compared with Rs 68,363 crore in the same quarter last year.
The lender said its deposits were up 13 per cent YoY at Rs 92,743 crore for the quarter compared with Rs 81,746 crore in the same quarter last year. RBL Bank said its retail advances grew 32 per cent YoY while wholesale advances grew 6 per cent YoY for the quarter ended December 31, 2023.
"The mix of retail: wholesale advances was approx. 58:42. The bank continues to focus on growing the share of granular retail deposits in the overall deposit mix, with retail deposits (as per LCR definition) at approximately 44.4 per cent against 43.3 per cent as of December 31, 2022," RBL Bank said.
RBL Bank said its Retail LCR deposits rose 16 per cent YoY to Rs 41,209 crore from Rs 35,380 crore in the same quarter last year. CASA grew 5 per cent to Rs 31,333 crore from Rs 29,948 crore YoY, with CASA ratio coming in at 33.8 per cent against 35.7 per cent in September and 36.6 per cent in the same quarter last year. The average liquidity coverage ratio for the quarter stood at 132 per cent against 142 per cent in September and 144 per cent in the year-ago quarter.
The banking stock was in news this week amid a media report suggesting the private sector lender sold about Rs 800 crore of its credit card portfolio at a steep discount to Kotak Mahindra Bank.
Besides, the banking share along with Bajaj Finance was recently in news on report the Reserve Bank of India (RBI) granted a one-year extension for their co-branded cards, less than what the two had requested for. The apex bank granted an extension until December 21, 2024, but Bajaj Finance had on October 27 sought a longer extension for its credit card ties with RBL Bank.
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