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  1. RBL Bank soars nearly 3% on reporting 15% growth in gross advances in Q2FY25

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RBL Bank soars nearly 3% on reporting 15% growth in gross advances in Q2FY25

Upstox

2 min read | Updated on October 08, 2024, 16:28 IST

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SUMMARY

RBL Bank witnessed a sharp jump of 15% YoY in advances for Q2FY25. The robust jump advances are also complemented by equally strong deposit growth of 20% YoY at Rs.1,02,028 crore.

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RBL Bank soars on reporting 15% growth in gross advances in Q2FY25

RBL Bank soars on reporting 15% growth in gross advances in Q2FY25

Shares of RBL Bank jumped over 2% after the private sector lender reported a strong jump in advances and deposits profit for Q2FY25. At 3:00 p.m., the shares traded ₹195 apiece on the NSE.

RBL Bank’s gross advances stood at ₹89,786 crore (provisional) as of September 30, 2024 (Q2FY25), posting a 15% rise in year-on-year (YoY) terms against ₹78,170 crore as of September 30, 2023. Total deposits grew 20% to Rs 1,08,028 crore (provisional) as of September 30, 2024, as compared to ₹89,780 crore as of September 30, 2023.

CASA stood at ₹36,221 crore (provisional) as of September 30, 2024, posting a 13% rise in year-on-year terms against ₹32,089 crore as of September 30, 2023. CASA Ratio stood at 33.5% as of September 30, 2024, versus 35.7% as of September 30, 2023. The Liquidity Coverage Ratio (LCR) stood at 129% as of September 30, 2024, versus 142% as of September 30, 2023.

Net interest income (NII) increased by 19.5% to ₹1,699.9 crore, up from ₹1,422.3 crore in the same period last year. Gross non-performing assets (GNPA) increased slightly to 2.69% from 2.65% in the previous quarter. The net profit 29% YoY to ₹372 crore, up from₹ 288 crore in the same period last year.

RBL Bank operates as a scheduled commercial bank. The bank offers its services under various business verticals, including corporate and institutional banking, commercial banking, retail banking, agri and development banking and financial markets.

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