Company Update : RBL Bank by Motilal Oswal Financial Services Ltd
Robust gross advances growth at 6% QoQ; CASA ratio declines
Retail-to-wholesale mix at 60:40
RBL Bank (RBK) released its quarterly business update for 2QFY26. Here are the key highlights:
* RBK reported 14% YoY/6% QoQ growth in gross advances to INR1.02t, far better than our estimate of 10.5% YoY/2.8% QoQ growth. This was led by broad-based growth in retail advances (at 11% YoY/ 5% QoQ), as well as wholesale advances (at 20% YoY/ 6% QoQ).
* Within retail, secured retail advances grew at 29% YoY/10% QoQ, while unsecured advances de-grew by 7% YoY. Within wholesale, commercial advances growth stood healthy at 33% YoY/5% QoQ. The mix of retail and wholesale stood at 60:40.
* The deposit base grew by 8% YoY/3% QoQ to INR1.17t (our deposit growth estimate at 7.1% YoY/2.6% QoQ). CASA deposits grew 3% YoY/2% QoQ. As a result, the CASA ratio declined to 31.9% (vs. 32.5% in 1QFY26). That said, deposits
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