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This Article is From Jul 05, 2024

RBL Bank's Gross Advances Rise 18% In June Quarter

RBL Bank's Gross Advances Rise 18% In June Quarter
An RBL Bank branch in Mumbai. (Photographer: Vijay Sartape/NDTV Profit)

RBL Bank Ltd.'s gross advances rose 18% year-on-year to Rs 88,455 crore in the quarter-ended June, according to provisional figures released by the lender.

Total deposits rose 18% over a year ago to Rs 1.01 lakh crore, it said.

CASA ratio—the proportion of deposits that come from low-cost current and savings accounts—dipped to 32.6% from 37.3% in the year ago period. A lower CASA ratio indicates that the bank relies heavily on costlier wholesale funding, which can hurt the bank's margin.

The average liquidity coverage ratio for the quarter stood at 137%.

Retail advances in the quarter grew 31% year-on-year, while wholesale advances rose 2%.

The scrip closed 1.26% lower at Rs 266.15 apiece, as compared to a 0.06% advance in the NSE Nifty 50.

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