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 the Mumbai and founded in 1943.[3] It offers services in five sectors: corporate and institutional banking, commercial banking, retail banking, agricultural development banking and financial market access.[4] The bank has a network of 324 branches and 341 ATMs across the country as of July 2019.

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 founded by Babgonda Bhujgonda Patil, an advocate based in Sangli, and Gangaram Siddhappa Chougule[5], a merchant from Kolhapur and incorporated in Kolhapur district on 14 June 1943 as Ratnakar Bank Limited.[6]

In August 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).[7]

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.[6]

In the 2010s, RBL Bank reportedly raised Rs 4,000 Cr, from investors. The Bank raised Rs. 700 Cr in 2011, Rs 376 Cr. in 2013, Rs. 328 Cr. in 2014[8] and Rs.488 Cr in 2016. In July 2017, RBL Bank received board approval to raise Rs 1680 Cr.[9]

Operations[edit]

As of July 2019, it has a network of 324 branches and 341 ATMs across 21 states and union territories.[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]

Awards and recognition[edit]

  • Best Small Bank, Business Today – Money Today Financial Awards 2019[15]
  • Best Self Service Banking Initiative, Application - The Asian Banker Financial Technology Innovation Awards by The Asian Banker [16]

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. ^ "RBL Bank files DRHP to raise up to $173M in IPO". VC Circle. Retrieved 11 April 2016.
  5. ^ M, Sabarinath (5 July 2010). "Ratnakar Bank gets new-look board". The Economic Times. Retrieved 21 September 2019.
  6. ^ a b "Company History - RBL Bank Ltd". economictimes.indiatimes.com. The Economic Times. Retrieved 15 February 2019.
  7. ^ Chakraborty, Somasroy (20 January 2013). "Ratnakar Bank: From NH4 to NH8". business-standard.com. Business Standard. Retrieved 15 February 2019.
  8. ^ "RBL raises capital". Business Standard. Retrieved 20 September 2017.
  9. ^ "RBL Board Approval to raise 1680 Crore". Business Standard. Retrieved 20 September 2017.
  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. ^ "SBI, HDFC Bank bag 'Bank of the Year' award at BT-MT Financial Awards 2019". www.businesstoday.in. Retrieved 29 August 2019.
  16. ^ "Infosys Finacle & RBL Bank Win The Asian Banker Award 2019". EdgeVerve. Retrieved 29 August 2019.

External links[edit]