Stories
RBL Bank Targets 1,000 Branches in 2-3 Years to Boost Retail Deposits
- •RBL Bank aims to expand its network to 1,000 branches within two to three years to strengthen its focus on granular retail deposits.
- •Managing Director and CEO R Subramaniakumar stated that the bank plans to open 20-25 new branches in the current quarter alone.
- •The private lender reported its standalone net profit more than doubled year-on-year to nearly ₹482 crore for the September quarter.
- •RBL Bank mobilized around ₹34,000 crore through FCNR(B) deposits, providing strong liquidity to support future loan growth.
- •Management remains optimistic about asset quality, expecting credit slippages to trend materially downwards.
Key Questions Answered
RBL Bank aims to reach a milestone of 1,000 branches over the next two to three years as part of its strategy to sharpen its focus on granular retail deposits and expand its secured retail franchise. Managing Director and CEO R Subramaniakumar also noted that the lender plans to open 20 to 25 branches during the current quarter.
RBL Bank's standalone net profit more than doubled year-on-year to nearly ₹482 crore in the September quarter. This growth was supported by a 23% rise in interest income as business conditions remained stable across key lending segments.
RBL Bank has mobilised around ₹34,000 crore of foreign currency non-resident bank deposits under the Reserve Bank of India's special window, while its loan book received about ₹10,000 crore of leverage from the programme.
