RBL Bank records 5% YoY growth in advances

RBL Bank said that its gross advances rose 5% to Rs 59,941 crore as on 31 December 2021 as against Rs 57,092 recorded on 31 December 2020.

The advances have risen by 3.5% as compared with Rs 57,939 crore as on 30 September 2021.

"Retail advances was flat while wholesale advances grew 8% sequentially for the quarter ended 31 December 2021. The mix of retail to wholesale advances was approximately 53:47, the private lender said in a statement.

RBL Bank is a private sector bank. 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. It currently services over 9.97 million customers through a network of 445 branches, 1,435 business correspondent branches (of which 271 banking outlets) and 386 ATMs spread across 28 Indian states and Union Territories.

 

The bank's net profit declined 78.63% to Rs 30.80 crore on 2.10% rise in total income to Rs 2,567.65 crore in Q2 FY22 over Q2 FY21.

The scrip rose 1.45% to end at Rs 132.70 on the BSE yesterday.

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