RBL Bank shares hit a fresh 52-week high and gain 5% after the Q1 result

After the business update of Q1FY24 declared by the RBL Bank, it surged by 5% and hit a fresh 52-week high. In the last trading session, it closed at Rs 182.45 and today it opened at Rs 183.50. In today’s trading session, it hit a fresh 52-week high at Rs 194.20 and it has a 52-week low of Rs 80.40. Currently, it is trading at Rs 190.90 up by 4.63%. Over the past one year, it has increased from Rs 81.50 representing 138.28% growth from today’s high.

Now talking about the business update of the quarter ended June 30, 2023, the total deposits were Rs 79,216 crore which increased to Rs 84,887 crore by March 31, 2023, and further rose to Rs 85,638 crore by June 30, 2023. This represents a year-on-year (YoY) growth of 8% and a quarter-on-quarter (QoQ) growth of 1%. Retail LCR deposits grow YoY by 19% and QoQ by 3%.

Gross advances representing the total value of loans and credit extended by the bank amounted to Rs 62,110 crore as of June 30, 2022. By March 31, 2023, gross advances increased to Rs 71,857 crore and further grew to Rs 74,792 crore by June 30, 2023. This indicates a YoY growth of 20% and a QoQ growth of 4%. Retail advances grew 32% YoY while wholesale advances grew 8% YoY for the quarter that ended June 30 2023. The mix of retail and wholesale advances was approximately 56 and 44 respectively.

CASA (Current Account Savings Account) deposits amounting to Rs 28,526 crore on June 30, 2022, witnessed an increase to Rs 31,717 crore by March 31, 2023 and reached Rs 31,927 crore by June 30, 2023. This represents a YoY growth of 12% and a QoQ growth of 1%. The CASA ratio, which reflects the proportion of CASA deposits to total deposits was 36% on June 30, 2022, and increased to 37.4% by March 31, 2023. As of June 30, 2023, the CASA ratio slightly declined to 37.3%.

RBL Bank is a banking company engaged in providing a wide range of banking and financial services including wholesale banking, retail banking, treasury operations and other banking-related activities with market capitalisation of around Rs 11,400 crore.

How is RBL bank looking now ? What is there guidance for next Quarter/Year ?