RBL Bank Limited (formerly known as Ratnakar Bank Limited) was incorporated in 1943 in Kolhapur, Maharashtra. The name of the Bank was changed from Ratnakar Bank to RBL Bank Limited pursuant to a fresh certificate of incorporation dated 24 November 2014. The Bank is engaged in providing a wide range of banking and financial services including wholesale banking, retail banking, treasury operations and other banking related activities. Bank commenced its operations at its International Financial Services Centre Banking Unit (IBU) in Gujarat Inter
RBL Bank Limited (formerly known as Ratnakar Bank Limited) was incorporated in 1943 in Kolhapur, Maharashtra. The name of the Bank was changed from Ratnakar Bank to RBL Bank Limited pursuant to a fresh certificate of incorporation dated 24 November 2014. The Bank is engaged in providing a wide range of banking and financial services including wholesale banking, retail banking, treasury operations and other banking related activities. Bank commenced its operations at its International Financial Services Centre Banking Unit (IBU) in Gujarat International Finance Tec (GIFT) City, Gujarat in April 2017 and does not have a branch in any foreign country.
RBL Bank started a transformational journey under a new management team in 2010.
On 9 August 2013, Ratnakar Bank announced that that it has agreed to acquire Royal Bank of Scotland's Business Banking business, Credit Cards business & Mortgage portfolio in India subject to approvals from Competition Commission of India (CCI). This transaction would complement well with Ratnakar Bank's existing business and would help it add strength in the desired product and customer segments. The transaction is expected to help the bank create further capabilities in a very short span of time and enhance CASA.
On 10 April 2014, Ratnakar Bank announced the completion of a Rs 328 crore capital infusion as part of its third round of financing in the last three years led by leading global investors like CDC Group Plc and Asia Capital and Advisors Pte Ltd. Existing investors, including International Finance Corporation and Gaja Capital also participated in this round. These new funds will assist the bank in expanding its branch network in semi-urban and rural areas of India as well as providing a suite of financial products and services to the unbanked sections of society.
On 20 December 2015, RBL Bank announced completion of a Rs 488-crore pre-IPO preferential placement to certain international investors including Asian Development Bank (ADB) and CDC Group Plc among others. The fresh capital was raised for the purpose of augmenting the Bank's tier 1 capital base to meet the future capital requirements expected to arise out of growth in the Bank's assets and to comply with RBI's Basel III guidelines.
In August 2016, RBL Bank's maiden initial public issue was oversubscribed 70 times. The stock debuted at Rs 273.70 on BSE on 31 August 2016, a 21.64% premium over the IPO price of Rs Rs 225 per share.
On 27 September 2016, RBL Bank announced that it has raised Rs 330 crore from the UK-based development finance institution, CDC Group Plc (CDC), through Basel III compliant Tier II capital. The Tier II debt will strengthen the capital base of the bank, which in turn will support its businesses such as SME lending, agribusiness financing and financial inclusion. The infusion will also help the bank expand to new regions within India.
On 3 October 2016, RBL Bank announced the acquisition of a 9.99% stake in Utkarsh Micro Finance Ltd (UMFL) in what is a strategic move to reach out to the unbanked and underbanked segments of society. The bank is also entering into a MoU to extend its product portfolio to Utkarsh customers. UMFL has received in-principle approval from the RBI for setting up a small finance bank and is expected to commence operations soon.
On 7 October 2016, RBL Bank, NeoGrowth Credit Pvt. Ltd and Overseas Private Investment Corporation (OPIC), the US Government's development finance Institution, jointly committed to provide financing for small and medium enterprises (SMEs) in the Indian retail space. RBL Bank will lend to NeoGrowth to enable it to provide loans to SMEs excluded from mainstream funding. This financing will be backed by a $5 million loan guarantee from OPIC. NeoGrowth, a non-banking finance institution, uses innovative technology to serve the funding requirements of SMEs, which do not get loans easily from commercial banks owing to their small size, inadequate credit history and lack of collateral.
On 28 November 2016, RBL Bank and Bajaj Finance Ltd, one of the most diversified NBFCs in India, jointly announced a partnership to launch a series of co-branded credit cards for the Indian customers. This partnership will help RBL Bank further strengthen scale of operations in its rapidly growing credit cards business. These co-branded Credit Cards will be available for both existing as well as new customers of Bajaj Finance Ltd.
On 30 November 2016, RBL Bank announced that it has become the first bank in India to launch Aadhaar Payment Bridge System (APBS) for micro finance loan disbursements. This was achieved by doing the first successful cashless disbursement to various beneficiaries in the rural segment across the country.
On 6 April 2017, RBL Bank announced the opening of its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City). With this, RBL Bank has commenced offshore banking operations from India. The IBU will give RBL Bank access to international financial markets and the bank will offer a range of products and services to its clients. RBL Bank will raise foreign currency funds to meet its requirements in IBU and fund offshore subsidiaries of Indian companies, other foreign firms, and eligible Indian companies (via ECBs, Bonds etc.).
On 14 August 2017, RBL Bank announced that it has successfully completed the capital infusion of Rs 1680 crore from a set of marquee investors. The bank has issued 3.26 crore equity shares on preferential basis at a price of Rs 515 per share.
On 27 November 2017, RBL Bank announced that it has increased its stake from 30% to 60.48% in Swadhaar Finserve Pvt. Ltd. (SFPL) - a captive business correspondent of RBL Bank - engaged in offering services to the financial inclusion segment covering MSME & Micro banking in rural and semi-urban areas. RBL Bank bought the additional 30.48% stake in Swadhaar Finserve, in line with its business strategy to leverage technologies and partnerships and extend its service offerings to the under-banked.
During the FY2018, the total deposits of the Bank grew by 26.93% to Rs 43,902.26 crore as against Rs 34,588.09 crore in the previous year. The bank's Net advances upsurged by 36.74% from Rs 29,449.04 crore in FY 2016-17 to Rs 40,267.84 crore in FY 2017-18.
At the end of the previous fiscal FY 2016-17, the Bank's shareholding in Swadhaar Finserve Private Limited ('Swadhaar') was at around 30%. During FY 2017-18, the Bank had increased its shareholding in Swadhaar to 60.48%. Accordingly Swadhaar ceased to be an Associate Company of the Bank and had become a subsidiary of the Bank.
As on 31 March 2018, the bank had a distribution network of 265 branches, 807 BC branches and 388 ATMs across the country.
During the FY2018, the bank had issued 32,621,354 equity shares of Rs 10 each on preferential basis, each share allotted at a price of Rs 515/- aggregating to Rs 1,680.00 crore.
During the year 2018, the bank awarded the MOST PROMISING COMPANY OF THE YEAR at the CNBC TV18 India Business Leader Awards 2018. Also bagged the BEST BANK OF THE YEAR award at the Outlook Money Awards 2018. Also received the BEST SMALL BANK OF THE YEAR' Award at the Business Today Banking Awards 2018. The bank also won the HIGH GROWTH - PRIVATE SECTOR BANK' award at the Dun & Bradstreet Banking Awards 2018. Also received the FASTEST GROWING BANK award at the Business World Magna Awards 2018.
During the fiscal 2019, the total deposits of the Bank grew by 33.01% to Rs 58,394.42 Crore as against Rs 43,902.26 Crore in the previous year. The Bank's Net advances surged 34.87% from Rs 40,267.84 Crore in FY 2017-18 to Rs 54,308.24 Crore in FY 2018-19.
During the FY2019, the Bank had increased its shareholding in RBL Finserve Limited (Formerly Swadhaar Finserve Private Limited) to 100%. Accordingly, RBL Finserve Limited is now a wholly owned subsidiary of the Bank. On 28 June 2018, RBL Bank announced that it has acquired 100% stake in Swadhaar Finserve Pvt. Ltd. (SFPL) - an exclusive business correspondent of RBL Bank engaged in offering services to the underbanked segment in rural and semi-urban areas. RBL Bank has brought this additional stake from marquee investors including global financial inclusion nonprofit Accion, which has been instrumental in shaping Swadhaar into one of India's most effective lenders for underserved families and businesses. SFPL works as a last-mile distributor of comprehensive financial services and products, particularly loans and savings products, to low-income households and microenterprises across India.
As on 31 March 2019, the bank had a distribution network of 324 branches, 993 BC branches and 341 ATMs across the country.
The bank bagged the MOST PROMISING COMPANY OF THE YEAR award at the CNBC-AWAAZ CEO Awards 2019. Also received the INDIA'S BEST BANK FOR MICROFINANCE award at the Asiamoney Awards 2019. The bank also won the BEST SMALL BANK award at the Business Today Financial Awards 2019. Also bagged the BEST ENTERPRISE MOBILITY award at the BFSI Digital Innovation Awards by Express Computers.
During the fiscal 2020, the total deposits of the Bank marginally declined by 1.00% to Rs 57,812.22 Crore as against Rs 58,394.42 Crore in the previous year. The Bank's Advances Net advances grew by 6.83% from Rs 54,308.24 Crore in FY 2018-19 to Rs 58,019.05 Crore in FY 2019-20.
During the FY2020, the Bank has issued and allotted 57,700,000 equity shares to eligible qualified institutional buyers at a issue price of Rs 351.00 per equity share (including a premium of Rs 341.00 per equity share) aggregating to Rs 2025.27 crore on 06 December 2019.
Approval of Shareholders was obtained on 27 December, 2019 under Section 23, 42, 62(1)(c) of the Companies Act, 2013 by way of passing Special Resolutions to create, offer, issue and allot equity shares of Rs 10 each at the price of Rs 340.70 per equity share including premium on preferential basis to (i) 4,402,700 Equity Shares at the Issue Price aggregating to an amount Rs 1,499,999,890 to East Bridge Capital Master Fund I Ltd ; (ii) 2,527,140 Equity Shares at the Issue Price aggregating to an amount Rs 860,996,598 to FEG Mauritius FPI Limited; (iii) 6,310,530 Equity Shares at the Issue price aggregating to an amount of Rs 2,149,997,571 to Ishana Capital Master Fund; and (iv) 6,595,240 Equity Shares at the Issue Price aggregating to an amount of Rs 2,246,998,268 to WF Asian Reconnaissance Fund Limited.
As on 31 March 2020, the bank had a distribution network of 386 branches, 1245 BC branches and 389 ATMs across the country.
During the quarter ended December 2020, the bank has raised an additional capital of Rs 1566 crore on preferential basis through an issuance of 88,474,577 fresh equity shares of Rs 10 each at a price of Rs 177 per share.
RBL Bank opened 173 new BC branches during FY 2020-21, taking the total to 1200 in FY 2020-21.
During year 2021, RBL Bank had a distribution network of 435 branches, 1,424 BC branches and 380 ATMs across the country.
During FY 2021-22, RBL Bank opened 49 new BC branches, bringing total up to 1,240 branches servicing a customer base of 61.86 lakh.
During year 2022, RBL Bank had a distribution network of 502 branches, 1,418 BC branches and 414 ATMs across the country.
During year 2023, RBL Bank had a distribution network of 517 branches, 1,166 BC branches and 414 ATMs across the country.
During year 2024, RBL Bank had a distribution network of 545 branches, 1,272 BC branches and 395 ATMs across the country.
The Bank has launched seven new retail products - Housing Loans, Business & LAP Loans, Rural Vehicle Finance, Two Wheelers Loans, Used Car Loans, Loan Against Gold Ornaments and Education Loans in 2024. The Bank made a new launch under TFX-LRS remittances where non-RBL Bank account holders can transfer money overseas online through the Bank by paying through their own bank accounts. It has launched the RuPay National Common Mobility Card (NCMC) in association with Bengaluru Metro Rail Corporation Ltd. (BMRCL) to make transit payments interoperable via one card in 2024.
Deposits grew 7.2% to Rs 1,10,944 Crore. Total Advances grew by 10.3% Y-O-Y to Rs 92,618 crore, to reduce unsecured lending in FY2025.
The transformation in the Secured Retail book was powered by introduction of new products, including Prime Housing and Business Loans, Small & Micro LAP, Affordable Housing Loans, Two-Wheeler and Auto Loans, Working Capital and Business Banking Loans, Used Car Loans, LAGO, and Education Loans in FY25. Bank placed a strong emphasis on building ALL - Asset-Led Liability framework. Branches have become now the fulcrum for secured asset growth, with high engagement on cross-sell to liabilities customers. Bank expanded its self-distribution network, now comprising nearly 3,000 personnel working to drive direct card sales. Branch Banking played a pivotal role in both customer acquisition and cross-sell efforts with the opening of 562 branches, 1,177 BC points and 415 ATMs reaching customers in FY25. A total of 18 new branches were opened taking the total number of branches up to 562. RBL Bank expanded operational capacity by adding 1,000 seats through the establishment of two new back-office centres in FY25. In FY 2024- 25, Bank launched six new products across Vehicle Loans, Prepaid and Commercial Cards, and offerings aligned with GIFT City.
The Scheme of Amalgamation of the India Branches of the Emirates NBD Bank (P.J.S.C.) (ENBD) with the Bank under the Banking Regulation Act, 1949 has been implemented and issued as a going concern basis in FY 2025-26. The effectiveness of the Scheme is subject to receipt of
approval from the RBI and is currently awaited. The Bank expanded the network to over 628 branches by adding more than 60 new branches in the FY 2025-26. Total deposits grew by 25.3% to Rs 1,39,018 crore, while granular retail deposits increased by 16% and accounted for 46% of total deposits in 2026.
