RBL Bank

Template:Unreviewed RBL is a scheduled commercial bank in India with a presence in 12 states of the Union. Established in 1943, Ratnakar Bank Limited became RBL under a new management in 2010 following which the bank has embarked on an aggressive growth plan based on professional governance, relationships, technology, infrastructure, high-quality capital and geographic expansion. The bank currently has a network of 175 branches and 350 ATMs across 12 Indian states. It was rated “India’s Best Bank (Growth)” in the mid-sized banking segment by a Business Today-KPMG study in 2012 and 2013.

RBL offers specialized services under five business verticals: Corporate & Institutional Banking, Commercial Banking, Retail Banking, Agri & Development Banking, and Financial Markets. The bank services more than 500,000 customers and has a total business of Rs21,000 crore. Over the last three years, it has infused over Rs1,500 crore into some notable global and domestic companies, taking its TIER 1 capital to Rs2,000 crore (approx).

History:

In 1943, inspired by the call for self-reliance given by national leaders during the freedom struggle, a group of eminent personalities from various walks of life came together to start a movement for economic independence. Given the prevailing scenario of industrialist-owned banks catering to the needs of the rich and considering the limitations of cooperative societies and cooperative banks, the idea of establishing a bank to meet the needs of the low- and middle-income segments of society engaged in trade and commerce was conceived. Babgonda Bhujgonda Patil, a distinguished advocate of Sangli, and Gangaram Siddhappa Chougule, a renowned merchant of Kolhapur, helped to propel this idea into reality and The Ratnakar Bank Limited was set up in 1943 as a community bank. It was granted the status of scheduled commercial bank in 1959. The bank focused on small businesses, traders and the farming community in Maharashtra and the northern Karnataka belt. It was built on the middle class values of loyalty and commitment with a frugal, conservative orientation.

Today, RBL offers the following core products:

Personal banking NRI banking Commercial banking Corporate & Institutional Banking Agri Banking & Financial Inclusion Microfinance Microbanking Microsavings and remittances Insurance

Governance Structure:

Over the last three years, RBL has achieved a diversified ownership structure and highly regarded industry professionals have been inducted in the board.In April 2014, CDC Group plc, the UK’s development finance institution, bought 4.8% equity stake at US $28 million in RBL

Leadership & Bank Culture:

Getting right-minded and competent people to be part of the transformational journey was one of the challenges for RBL. Today the bank has bringing on board highly accomplished individuals from the financial services industry. RBL fosters a culture of strong internal teamwork, partnership and meritocracy. To achieve this, the bank’s performance management processes have been strengthened to reflect transparency, objectivity, professionalism and fairness in reward, recognition and punishment systems.

Technology Platforms: It was important for RBL to change its main technology engine --- the Core Banking System --- to transform itself technologically. After evaluating all options the bank decided to go with Finacle from Infosys, becoming one of the first banks in India to install the latest version of the software. RBL won the ‘Asian Banker Technology Implementation Award 2013’ for the best core banking implementation of 2012.

Employees:

As on 31 March 2014, RBL had 2,798 employees, of whom 505 were women (18%). The average age of an RBL employee is 33 years.

Awards & Recognition:

RBL was rated "India’s Best Bank (Growth)" in the mid-sized bank segment and ranked 5th overall by a Business Today-KPMG study in 2012
RBL won the Asian Banker Technology Implementation Award 2013 for the best core banking implementation of 2012
Featured in PC Quest “Best IT Implementation of the Year 2013” issue for successful implementation of Private Cloud Computing (Desktop Virtualisation) Project

Sponsorships:

RBL is the principal sponsor of the Delhi Daredevils at the 7th season of the Indian Premier League in 2014.

Key Personnel:

Vishwavir Ahuja --- MD & CEO
Rajeev Ahuja --- Head, Strategy
Nitin Chopra --- Head, Retail Banking

References