RBL Bank share price rises on better loan growth in Q3

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The bank’s total deposits stood at Rs 73,637 crore as of December 31, which is lower than Rs 75,588 crore recorded in the previous quarter

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RBL Bank shares advanced over 2 percent intraday on January 6 after company reported better loan growth for the quarter ended 31 December 2021.

RBL Bank’s gross advances jumped 5 percent year-on-year to Rs 59,941 crore (provisional) in Q3FY22 from Rs 57,092 crore in the same quarter of the previous fiscal year. Sequentially, it was up 3.5 percent from Rs 57,939 crore in Q2FY22.

Retail advances remained flat, while wholesale advances grew 8 percent sequentially during the three month period.

The ratio of retail and wholesale advances stood at approximately 53:47.

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On January 2, the private lender reported a 2.58 percent decline in total deposits as compared to the previous quarter.

The bank’s total deposits stood at Rs 73,637 crore as of December 31, which is lower than Rs 75,588 crore recorded in the previous quarter.

However, year-on-year (YoY), the bank has posted a 9.61 percent surge as the total deposits stood at Rs 67,184 crore on December 31, 2020.

At 12:22 pm, RBL Bank quotes Rs 134.40 apiece, up 1.28 percent on the BSE. On the other hand, the benchmark Sensex cracked 907.26 points or 1.51 percent at 59,315.89.

The share touched a 52-week high of Rs 274 and a 52-week low of Rs 123.70 on 08 January, 2021 and 31 December, 2021, respectively.

Currently, the stock is trading 50.66 percent below its 52-week high and 9.3 percent above its 52-week low.