RBL Bank shares tumble 4% after Q1 update disappoints
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Shares of RBL Bank fell by 4.2% to a low of Rs 255 after the company’s June quarter update disappointed D-street. The bank’s total deposits recorded a 2% quarter-on-quarter (QoQ) decline in its total deposits at Rs 1.01 lakh crore. However, the number was an 18% increase on a year-on-year (YoY) basis. The bank’s CASA stood at Rs 32,996 crore, which was a 3% YoY increase, but a decline of 9% QoQ. Company’s gross advances increased 18% YoY to Rs 88,455 crore. RBL Bank has reported a CASA ratio and liquidity coverage ratio at 32.6% and 137% respectively for the first quarter of FY25. Also read: HDFC Bank shares fall 3% as Q1 update disappoints investors “The Bank continues to focus on growing the share of granular retail deposits in the overall deposit mix, with deposits below Rs. 3 Crore constituting approx. 49.3% of the overall deposits of the Bank as at June 30, 2024,” the bank said in a filing to the exchanges. The bank also informed tha...