RBL Bank Limited (formerly known as Ratnakar Bank Limited) is a scheduled commercial bank headquartered in the Kolhapur region of Maharashtra. Founded in August 1943, RBL is one of the oldest private sector banks in India. The Bank currently services approximately 19,00,000 customers and has a total business size of over Rs. 45,000 Crores. It offers a range of banking products and services categorized largely in 5 verticals - Corporate & Institutional Banking, Commercial Banking, Retail Banking, Agri & Development Banking and Financial Markets. As of July 2015, ICRA has reaffirmed the rating of [ICRA] A1+ to the Rs 2,250 Crore (Enhanced from Rs. 1,500 Crore) Certificates of Deposits Programme of RBL Bank. It has also reaffirmed the rating of [ICRA]MAA- with stable outlook on the Fixed Deposit Programme and the rating of [ICRA] A1+ to the Short Term Fixed Deposits Programme of the bank.
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History
In August 1943, RBL Bank was incorporated as a small, regional bank in Maharashtra with two branches in Kolhapur and Sangli. It was founded by a group of eminent patriotic personalities to cater to the needs of small and medium business merchants in the Kolhapur-Sangli belt. In August 1959, the Bank was categorised as a "Scheduled Commercial Bank" within the meaning of the Reserve Bank of India Act, 1934. In the banking circles, RBL Bank was often known as the NH4 Bank, since a majority of its business was sourced from cities in and around the 1,235-kilometer-long National Highway 4 that connected four of the 10 most populous cities in India.
In July, 2010, RBL Bank underwent a transformation during the difficult economic period following the global financial crisis as well as the economic slowdown that followed in India. The Bank inducted Mr. Vishwavir Ahuja as the Managing Director & CEO to transform the institution from an old private sector bank into a vibrant, professionally governed and managed new-age bank with a high degree of professionalism, competitiveness, size and scale. The Bank also revamped the management by inducting professionals from the banking, finance, agriculture and other related fields. Since then, RBL has raised high quality institutional capital from noteworthy investors such HDFC Limited, Gaja Capital, Norwest Ventures, CDC Group Plc, Aditya Birla Private Equity, IDFC SPICE Fund, Ascent Capital among others. The Bank has raised Rs. 700 Cr. 2011, Rs 376 Cr. in 2013,Rs. 328 Cr. in April 2014 and successfully raised Rs. 488 Cr. as Pre-IPO preferential placement from several global and domestic investors augmenting its Tier 1 capital to meet the future capital needs of the Bank Today, RBL Bank is one of India's fastest growing private sector bank within the last 4 years.
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Listing
On August 31st, 2016, RBL Bank was listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The IPO received an overwhelming response from investors and was subscribed almost 70 times (QIB -86 times; NIB -nearly 200 times and Retail - 5.6 times).The Bank was listed at Rs 274 on the National Stock Exchange (NSE), a 22% premium against its issue price of Rs 225 per share. In September 2016, RBL Bank raised Rs 330 Crores from the UK-based development finance institution, CDC Group Plc (CDC), through Basel III compliant Tier II capital.
Financial Performance
Over the last three years, RBL has infused capital of over Rs. 2,000 Cr, from leading domestic and global investors. In the year 2015-16, RBL registered a profit of INR 292 Cr, up 40% & paid a dividend of 15%. As per the results declared in the fiscal year 2014-15, RBL had a balance sheet growth of 49% and a 4-year CAGR of 70%.
Operations
As of March 2016, RBL Bank has grown to a network of 201 branches and 362 ATMs across 16 Indian states and Union Territories.
Sectors
As a full service bank, RBL services large corporations, small and medium enterprises (SMEs), agricultural customers, retail customers and development banking & financial inclusion (low income) customers.
Products & Services
- Accounts
- Fixed Deposits
- Credit Cards
- Loans
- Insurance
- Internet Banking
- Mobile Banking
- Investment Services
- Demat
Initiatives
- India's first credit card for Golf Enthusiasts in association with Indian Golf Union
- Shmart e-Wallet
- India Startup Club - With the Indian Government's campaigns like Make in India and Startup India, RBL Bank launched the India Startup Club, to service the end-to-end banking needs of the emerging entrepreneurial community.RBL Bank was one of the first private sector Bank's to open a dedicated branch for startups in Bangalore.
- Saksham - A financial literacy programme in collaboration with CDC to provide education to 25,000 individuals and 300 villages in four districts of Madhya Pradesh. Another Saksham programme was run in Ahmedabad in 2013.
- Swadhaar FinAccess (SFA) - In collaboration with Swadhaar Information and Management Services, RBL Bank started a financial literacy programme in Gujarat and Mumbai, which held a classroom based financial literacy course for women from low income communities.
- Banking Partner for Delhi Daredevils
- 'Umeed 1000' Cyclathon - Held in 2015, this was a fundraiser event in association with IIMPACT, the NGO established by alumni of IIM Ahmedabad. Cycling enthusiast Jasmeet Singh cycled with few bank employees for 1000 km. The Mumbai to Bangalore route raised Rs.23 Lakhs for children suffering from Retinoblastoma - a deadly form of eye cancer. And Mumbai to Delhi route raised Rs.37 Lakhs for providing primary education to empower young village girls in India.
Awards & Recognition
- Ranked 1st amongst 47 banks in the Banking Codes and Standard Board of India (BCSBI) Survey 2014-15 on Commitment to customers and Micro & Small Enterprises
- Awarded the MasterCard Innovation Awards - 2016 for the best Debit Card innovation for the India Startup Club Debit Card
- Awarded the Best Corporate Payment Project at the Asian Banker Technology Innovation Awards 2016
- Received the IDRBT(Institute for Development and Research in Banking Technology) Banking Technology Excellence Award 2014-15 for 'Use of Technology for Financial Inclusion.'
- Featured at the 31st position in the Fortune Next 500 list of Indian companies, 2015. Other companies included MakeMyTrip, IRCTC and Redington.
- Recognised as a Global Growth Company, 2014 by World Economic Forum
- Rated as India's Best Bank (Growth) in the mid-sized bank segment - A Business Today and KPMG study in 2012, 2013, 2014 & 2015.Also rated Best Bank (Small) and Best Bank (Quality of Assets) 2015
- Rated as the Fastest Growing Small Bank according to Business World-PWC Best Bank Survey 2013, 2014 & 2015.
- Ranked as the Best Bank in the Priority Sector Lending (Private Sector), Dun & Bradstreet Banking Awards, 2014 & 2015.
- World Economic Forum Recognizes RBL Bank as a Global Growth Company.
- Rated as the Best Indian Banker (Small-Sized), Sunday Standards Best Bankers Award, 2013
- Winner of the Best Core Banking Project, India, 2012, Asian Banker Technology Implementation Award
- Financial Services Company of the Year award by VCCircle.
Acquisitions
RBL Bank bought certain businesses of the Royal Bank of Scotland (RBS), India in 2013. The deal included business such as Business Banking, and Credit Cards and the mortgage portfolio, leading to 1.2 lakh customers of RBS, moving to RBL Bank
Source of the article : Wikipedia
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