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RBL Bank lost about 8% deposits in Q4, cost of deposit declines

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MUMBAI: Private sector lender RBL Bank Ltd on Wednesday said while it lost about 8% of its deposits in the March quarter, its cost of deposits declined on a sequential basis during the period.

In a statement to the exchanges, the bank said there has been some run-offs of deposits but the reduction was essentially in bulk deposits from government entities and corporations.

The bank has also re-balanced its deposit profile wherein the proportion of retail deposit and current and savings account (CASA) ratio was higher sequentially as on 31 March.

RBL Bank said it saw a strong operating profit trajectory for the quarter, stable quarter-on-quarter (QoQ) and a consequent healthy growth year-on-year (YoY).

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