RBL Bank

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RBL Bank
Private
Traded asBSE540065
NSERBLBANK
IndustryBanking
Financial services
Founded1943
HeadquartersMumbai, Maharashtra, India
Key people
Mr Vishwavir Ahuja
(MD & CEO)
ProductsConsumer banking, Corporate banking, Finance and Insurance
Revenue7,743.08 crore (US$1.1 billion) (2019)[1]
1,939.83 crore (US$280 million) (2019)[1]
866.95 crore (US$130 million) (2019)[1]
Total assets80,359 crore (US$12 billion) (2019)[2]
Number of employees
5,843 (2019)
Websitewww.rblbank.com

RBL Bank (formerly known as Ratnakar Bank) is an Indian private sector bank headquartered in Mumbai and founded in 1943.[3] It offers services across six verticals: corporate and institutional banking, commercial banking, branch and business banking, retail assets, development banking and financial inclusion, treasury and financial market operations.[4][5]

As of November 2019, the bank has a network of 346 branches and 394 ATMs across the country.

History[edit]

In August 1943, Ratnakar Bank was founded as a regional bank in Maharashtra with two branches in Kolhapur and Sangli. It mainly served small and medium enterprises (SMEs) and business merchants in the Kolhapur-Sangli belt. It was incorporated in Kolhapur district on 14 June 1943 as Ratnakar Bank Limited.[6][7] In 1959, the bank was categorized as a scheduled commercial bank as per the Reserve Bank of India Act, 1934. During this decade, it was referred to as an NH4 Bank. In 1970, it received a banking license from the Reserve Bank of India (RBI).[8]

In July 2010, Vishwavir Ahuja became managing director and CEO of the bank. In August 2014 the name of the bank was changed to RBL Bank Limited.[7]

Operations[edit]

As of November 2019, it has a network of 346 branches and 394 ATMs across 23 states and union territories.[9][10][11] It has 5,843 employees.[2]

In 2016, the bank ran a financial literacy programme called Saksham in collaboration with CDC to provide education to 25,000 individuals and 300 villages in four districts of Madhya Pradesh.[12] Another Saksham programme was run in Ahmedabad in 2013.[13] In 2018, it partnered with MoneyTap to launch India's first personal credit line based app.[14]

Funding[edit]

RBL Bank has raised funding from investors such as CDC Group, Multiples Alternate Asset Management, Asian Development Bank, and PremjiInvest among others.[15]

Throughout the 2010s, RBL Bank reportedly raised a total of INR 4,000 crore from investors. It raised INR 700 crore in 2011, INR 376 crore in 2013, INR 328 crore in 2014 and INR 488 crore in 2016.[16] In July 2017, RBL Bank received board approval to raise an additional INR 1680 crore.[17]

On November 30, RBL Bank announced that it will raise Rs 825.79 crore through the private placement of shares.[18]

Awards and recognition[edit]

  • Best Bank for Microfinance - Asiamoney Best Bank Awards 2019 by Euromoney[19]
  • Best Small Bank, Business Today – Money Today Financial Awards 2019[20]
  • Best Self Service Banking Initiative, Application - The Asian Banker Financial Technology Innovation Awards by The Asian Banker [21]

See also[edit]

References[edit]

  1. ^ a b c "RBL Bank Yearly Results". The Economic Times. Retrieved 17 July 2019.
  2. ^ a b "Combined Result Q4 FY19" (PDF). RBL Bank. Retrieved 17 July 2019.
  3. ^ "Office of RBL Bank".
  4. ^ https://www.rblbank.com/about-us
  5. ^ "RBL Bank files DRHP to raise up to $173M in IPO". VC Circle. Retrieved 11 April 2016.
  6. ^ M, Sabarinath (5 July 2010). "Ratnakar Bank gets new-look board". The Economic Times. Retrieved 21 September 2019.
  7. ^ a b "Company History - RBL Bank Ltd". economictimes.indiatimes.com. The Economic Times. Retrieved 15 February 2019.
  8. ^ Chakraborty, Somasroy (20 January 2013). "Ratnakar Bank: From NH4 to NH8". business-standard.com. Business Standard. Retrieved 15 February 2019.
  9. ^ https://www.rblbank.com/about-us
  10. ^ Sonavane, Ravindra N. (10 April 2017). "RBL Bank now among India's 10 most valuable banks". www.livemint.com. Retrieved 27 June 2017.
  11. ^ {{cite news|urlhttps://www.livemint.com/industry/energy/rbl-bank-plans-to-raise-150-mn-debt-from-ifc-1562785149431.html|title=RBL Bank plans to raise $150 mn debt from IFC|last=Saxena|first=Ridhima|date=2019-07-11|website=Livemint|access-date=2019-07-17
  12. ^ "RBL Saksham in Madhya Pradesh". Telegraph India. Retrieved 11 April 2016.
  13. ^ "Saksham in Ahmedabad". Times Of India. Retrieved 11 April 2016.
  14. ^ Bhakta, Pratik (23 May 2017). "Moneytap, RBL Bank to offer line-of-credit to small units". The Economic Times. Retrieved 7 November 2018.
  15. ^ https://www.vccircle.com/rbl-bank-to-raise-260-mn-from-multiples-pe-cdc-and-others
  16. ^ "RBL raises capital". Business Standard. Retrieved 20 September 2017.
  17. ^ "RBL Board Approval to raise 1680 Crore". Business Standard. Retrieved 20 September 2017.
  18. ^ "RBL Bank to raise Rs 825.79 crore through private placement of shares". Money Control. Retrieved 1 December 2019.
  19. ^ https://www.euromoney.com/article/b1ddgmvktgp4hg/asiamoney-best-bank-awards-2019-india#Micro
  20. ^ "SBI, HDFC Bank bag 'Bank of the Year' award at BT-MT Financial Awards 2019". www.businesstoday.in. Retrieved 29 August 2019.
  21. ^ "Infosys Finacle & RBL Bank Win The Asian Banker Award 2019". EdgeVerve. Retrieved 29 August 2019.

External links[edit]