RBL Bank shares rise 4% after strong Q3 business update

The stock opened higher and rallied as much as 4.23% to hit an intraday high of ₹169.68 per share on NSE in morning deals. More than 1.19 crore shares changed hands on the stock exchange. The traded value stood at ₹198.72 crore.

RBL Bank shares were trading 1.46% higher at ₹165.16 apiece at 11:14 am while the broader NIFTY was down 1.11% at 23,739.25 apiece.

RBL Bank in its third quarter business update reported a 13% year-on-year rise in gross advances to ₹92,740 crore for the October-December 2024 period, compared to ₹81,864 crore in the same quarter last year. On a quarterly basis, gross advances were higher by 3% compared to ₹89,766 crore in the September quarter of FY25.

According to the business update, retail advances increased by 20% YoY while wholesale advances rose by 5% YoY for the quarter ended on December 31, 2024.

Commercial banking advances jumped 21% YoY while Secured Retail Advances (excluding credit cards and microfinance) spurted by 37% YoY.

“The mix of retail: wholesale advances was approx. 61:39,” the bank said.

Current Bucket Collection Efficiency for Microfinance advances was 98.4% for December 2024 against 97.51% for September 2024, it stated.

The update showed that RBL Bank’s total deposits rose by 15.11% to ₹1,06,763 crore as of 31 December 2024, from ₹92,746 crore as of 31 December 2023. Deposits slipped by 1% QoQ from ₹107,959 crore as of September 30, 2024.

“The Bank continues to focus on growing the share of granular retail deposits in the overall deposit mix, with deposits below ₹3 Crore constituting approx. 50.3% of the overall deposits of the Bank as at December 31, 2024,” the bank stated.

Deposits of less than ₹3 crore were at ₹53,703 crore as of December 31, 2024, against ₹44,882 crore as of December 31, 2023, up by 20%. These deposits were ₹52,234 crore at the September-end last year.

Total CASA increased by 11.74% to ₹35,020 crore in the December quarter compared to ₹31,338 crore as of December 31, 2023.

CASA ratio reduced to 32.8% as of December 31, 2024, compared to 33.8% reported in the year-ago period.