RBL Bank appoints Deepak Ruiya as deputy CFO

The private sector bank elevated Deepak Ruiya to the position of deputy chief financial officer, with effect from 6 March 2023.

The bank had earlier intimated about the untimely demise of Amrut Palan who had been serving as a Chief Financial Officer (CFO) of the bank.

The bank is in the process of finalising a suitable incumbent for the position of a CFO.

Ruiya in his capacity as deputy CFO will be responsible for all the functions as are executed by a CFO. He would also be designated as a key managerial personnel of the bank.

Shares of RBL Bank were down 0.36% at 166 on Monday, 6 March 2023. The stock market was shut on Tuesday, on account of Holi.

RBL Bank is a private sector lender. It offers specialized services under five business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets and treasury and financial markets operations. As of 31 December 2022, the bank has 516 bank branches and 1,168 business correspondent branches, of which 298 are banking outlets.

The bank reported 34% rise in net profit to Rs 209 crore on a 14% increase in total income to Rs 2,987 crore in Q3 FY23 over Q3 FY22. Net interest income (NII) grew by 14% YoY to Rs 1,148 crore while the net interest margin (NIM) was 4.74% during the period under review.

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