May 24, 2024

RBL Financial institution Q3 gross advances develop 20% YoY to Rs 81,870 crore, deposits progress at 13%.

Shares of RBL Financial institution gained almost 2 p.c in early commerce on January 5 after a 13 p.c on-year progress in complete deposits to Rs 92,743 crore. At 9:15am, the inventory was buying and selling at Rs 289.24 on the NSE.

RBL Financial institution, a personal sector lender, has reported a 13 p.c year-on-year progress in complete deposits, reaching Rs 92,743 crore for the quarter ended December FY24. Notably, retail Liquidity Protection Ratio (LCR) deposits confirmed a strong 16 p.c on-year improve, totaling Rs 41,209 crore.

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Nevertheless, the Present Account Financial savings Account (CASA) ratio declined to 33.8 p.c in Q3FY24, down from 36.6 p.c in the identical interval final yr as disclosed in a enterprise replace submitting by the financial institution with BSE on January 4.

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Gross advances for the financial institution skilled a major 20 p.c year-on-year progress, reaching Rs 81,870 crore. Inside this, retail advances surged by 32 p.c year-on-year, whereas wholesale advances noticed a extra modest 6 p.c year-on-year improve in the course of the quarter.

In abstract, RBL Financial institution’s newest monetary outcomes spotlight optimistic progress in complete deposits, with a notable uptick in retail LCR deposits. Nevertheless, there was a lower within the CASA ratio, and the financial institution noticed substantial progress in each retail and wholesale advances, showcasing a balanced growth in its lending portfolio.

RBL Financial institution inventory name: Verify brokerage views, goal costs

Morgan Stanley has given RBL Financial institution an “underweight” score with a goal of Rs 250 per share. In response to their preliminary report, the financial institution’s mortgage progress was 5 p.c quarter-on-quarter (QoQ) and 20 p.c year-on-year (YoY), remaining comparatively secure.

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Additional, retail mortgage progress slowed down, however non-retail mortgage progress improved. Retail deposits elevated by 4 p.c QoQ, remaining regular in comparison with the earlier quarter, whereas liquidity decreased.

RBL Financial institution inventory efficiency

The RBL Financial institution inventory has given a return of fifty.28 p.c over the past six months. The benchmark Nifty Financial institution index has given a return of 6.74 p.c over the identical length.

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