RBL Bank gains after Q2 deposits rise 3% YoY

RBL Bank rose 1.35% to Rs 179.50 after the private bank's total deposits gained 3% to Rs 64,529 crore in Q2 September 2020 as against Rs 62,829 crore in Q2 September 2019.

Current Account-Savings Account (CASA) jumped 21% to Rs 20,060 crore in Q2 September 2020 (Q2 FY21) as against Rs 16,620 crore in Q2 September 2019 (Q2 FY20). CASA ratio stood at 31.1% in Q2 FY21 from 26.5% in Q2 FY20 and 30.1% in Q1 FY21.

Liquidity coverage ratio in Q2 FY21 stood at 170.7% compared with 136.5% in Q2 FY20 and 164% in Q1 FY21. Gross advances slipped 3% to Rs 57,295 crore in Q2 FY21 compared with Rs 59,103 crore in Q2 FY20. Retail advances grew 23% Y-o-Y (year-on-year) and 7% Q-o-Q (quarter-on-quarter) in Q2 FY21, with the mix of retail: wholesale advances at approximately 56:44.

The scrip has galloped 76.67% from its 52-week low of Rs 101.60 hit on 22 April 2020.

The private bank's profit fell 47.1% to Rs 141.22 crore on 2.6% rise in total income to Rs 2,568.32 crore in Q1 FY21 over Q1 FY20.

RBL Bank is a private sector bank. It offers specialized services under six business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets, development banking and financial inclusion, treasury and financial markets operations.

Powered by Capital Market - Live News