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RBL Bank

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RBL Bank
Company typePrivate Bank
IndustryBanking
Financial services
FoundedAugust 1943
Key people
Vishwavir Ahuja, MD and CEO
ProductsCorporate & Institutional Banking
Commercial Banking
Retail Banking
Agri & Development Banking
Financial Markets [1]
Number of employees
3411 (as on 29th Feb 2016)
Websiterblbank.com

RBL Bank Limited (Formerly known as The 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. [2] The Bank currently services approximately 1 million customers and has a total business size of over Rs. 20,000 Cr. It offers a range of banking products and services categorised largely in 5 verticals - Corporate & Institutional Banking, Commercial Banking, Retail Banking, Agri & Development Banking and Financial Markets. [3] 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. [4]


History

In August 1943, Ratnakar 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,[5] since a majority of its business came from cities in and around the 1,235-kilometer-long National Highway that connected four of the 10 most populous cities in India from Pune to Chennai.

In 2007, State Bank of Mauritius bought a 4.8% stake in the bank. Other shareholders included Centrum Group and Indocean Fund.[6] In July, 2010, RBL Bank underwent a transformation[7] 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[8] as the Managing Director & CEO to transform the institution from an old private sector bank to a new-age bank. The Bank also revamped the management by inducting professionals from the banking, finance, agriculture and other related fields. Since then, RBL has raised Rs. 700 Cr. in January 2011 and Rs. 328 Cr. in April 2014.[9][10] Investors include World Bank body International Finance Corporation[11] Gaja Capital, Norwest Venture Partners India,[12] Aditya Birla PE, Emerging India Fund, IDFC Spice Fund and Ascent Capital and Capvent.

Financial Performance

Over the last three years, RBL has infused capital of over Rs. 1,500 Cr, from domestic and global investors, taking the TIER 1 capital to approximately Rs. 2,000 Cr. In the year 2014-15, RBL saw a profit of INR 207 Cr, which was more than double of the previous year. 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%.[13][14]

Operations

As of March 2016, RBL Bank has grown to a network of 193 branches and 362 ATMs[15] across 13 Indian states and Union Territories. In 2014, the bank announced its plan to issue an IPO.[16]

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 in association with the Indian Golf Union (IGU)[17]
  • Shmart e-Wallet[18]
  • 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.[19]
  • 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. [20] Another Saksham programme was run in Ahmedabad in 2013. [21]
  • 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 [22]
  • ‘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 kms. 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.[23][24][25][26]

Awards & Recognition

  • Featured at the 31st position in the Fortune Next 500 list of Indian companies, 2015. Other companies included MakeMyTrip, IRCTC and Redington.[27]
  • Recognised as a Global Growth Company, 2014 by World Economic Forum[28][29]
  • Rated as India’s Best Bank (Growth) in the mid-sized bank segment - A Business Today and KPMG study in 2012, 2013 & 2014[30]
  • Rated as the Fastest Growing Small Bank according to Business World-PWC Best Bank Survey 2013 & 2014[31]
  • Ranked as the Best Bank in the Priority Sector Lending (Private Sector), Dun & Bradstreet Banking Awards, 2014[32]
  • 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[33]

Acquisitions

RBL Bank bought a part of the Indian business of the Royal Bank of Scotland (RBS), India in 2013. The deal included business of banking and credit cards and the mortgage portfolio, leading to 1.2 lakh customers of RBS, moving to RBL.[34][35][36]

Official RBL Website [37]

References

  1. ^ "RBL Products". VC Circle. Retrieved 11 April 2016.
  2. ^ "List Of Old Private Sector Banks In India".
  3. ^ "RBL Bank files DRHP to raise up to $173M in IPO". VC Circle. Retrieved 11 April 2016.
  4. ^ "RBL Bank Credit Rating" (PDF). RBL Bank. Retrieved 11 April 2016.
  5. ^ "NH4 Bank". Business Standard. Retrieved 11 April 2016.
  6. ^ "RBL Bank Investors". Economic Times. Retrieved 11 April 2016.
  7. ^ "RBL Bank in 2010". Biz Punditz. Retrieved 11 April 2016.
  8. ^ "About Mr Vishwavir Ahuja - MD and CEO". Bloomberg. Retrieved 11 April 2016.
  9. ^ "Pre-IPO Preferential Placement". Economic Times. Retrieved 11 April 2016.
  10. ^ "Pre-IPO Preferential Placement". Business Standard. Retrieved 11 April 2016.
  11. ^ "Investment from IFC". Economic Times. Retrieved 11 April 2016.
  12. ^ "RBL Bank goes for bigger plan". Business Standard.
  13. ^ "RBL Bank Q4 Results". Live Mint. Retrieved 11 April 2016.
  14. ^ "Annual Report 2014-15" (PDF).
  15. ^ "List Of RBL ATMs".
  16. ^ "RBL plans to issue an IPO". The Hindu Business Line. Retrieved 11 April 2016.
  17. ^ "India's first credit card in association with IGU". Business Wire. Retrieved 11 April 2016.
  18. ^ "Eko Wallet Launch". Medianama. Retrieved 11 April 2016.
  19. ^ "India Startup Club". The Hindu. Retrieved 11 April 2016.
  20. ^ "RBL Saksham in Madhya Pradesh". Telegraph India. Retrieved 11 April 2016.
  21. ^ "Saksham in Ahmedabad". Times Of India. Retrieved 11 April 2016.
  22. ^ "RBL Partners With Delhi Daredevils". Times Of India. Retrieved 11 April 2016.
  23. ^ "Umeed 1000 Cyclathon". Times Of India. Retrieved 11 April 2016.
  24. ^ "Umeed 1000 Cyclathon". Business Standard. Retrieved 11 April 2016.
  25. ^ "Umeed 1000 Cyclathon". Ahmedabad Mirror. Retrieved 11 April 2016.
  26. ^ "Umeed 1000 Cyclathon". DNA. Retrieved 11 April 2016.
  27. ^ "Fortune Next 500 Indian Companies". Economic Times. Retrieved 11 April 2016.
  28. ^ "WEF Recognises RBL". Telegraph India. Retrieved 11 April 2016.
  29. ^ "WEF Recognises RBL". Business Wire India. Retrieved 11 April 2016.
  30. ^ "India's Best Banks". Business Today. Retrieved 11 April 2016.
  31. ^ "Business World-PWC Best Bank Survey". Business World. Retrieved 11 April 2016.
  32. ^ "RBL Certifications" (PDF).
  33. ^ "Best Core Banking Project Awardee". Information Week. Retrieved 11 April 2016.
  34. ^ "RBS Sells Business To RBL". India Times. Retrieved 11 April 2016.
  35. ^ "RBL Acquires Business From RBS". Economic Times. Retrieved 11 April 2016.
  36. ^ "RBL-RBS Acquisition". Reuters. Retrieved 11 April 2016.
  37. ^ "Official Website". RBL Bank. Retrieved 6 September 2015.
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