RBL Bank mobilised $150 mln via FCNR(B) deposits so far, says MD
This story was originally published at 18:29 IST on 17 July 2026
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--RBL Bank: Our focus on retail deposits will remain unwavered
--RBL Bank: Remain cautious on West Asia war impact, monitoring actively
--RBL Bank: Have mobilised $150 mln via FCNR(B) deposits so far
--RBL Bank: Will try to mobilise as much FCNR(B) deposits as possible
--RBL Bank: Strengthening our branch presence in relevant geographies
--CONTEXT: RBL Bank's management speaking at post-earnings press conference
--RBL Bank: Not seen any impact on portfolio due to West Asia war so far
NEW DELHI – RBL Bank Managing Director and Chief Executive Officer R. Subramaniakumar Friday said the bank has raised $150 million through foreign currency non-resident bank deposits so far. "Given our relationship with the Emirates NBD, we will try to raise as much as possible," he said at a post-earnings press conference Friday.
Indian banks and certain foreign lenders have increased interest rates on dollar deposits under the FCNR(B) scheme by over 300 basis points in some cases after the Reserve Bank of India launched the scheme as the RBI's swap window allows them to price these deposits on a par with domestic liabilities. The regulator did away with caps on offering deposit rates in June, which was seen as a push to maximise inflows.
"We will try to mobilise as much as possible and depending on the circumstances and everything, we are working on it. And we are working on two fronts, one with our partner bank in Middle East, the second is we have a fair list of non-resident Indians with whom we are also working on mobilising FCNR," Subramaniakumar said.
For the June quarter, net profit of the bank rose sharply on year due to a rise in net interest income. The private sector lender's net profit rose nearly 27% on year to INR 2.54 billion. Its total income rose over 6% on year to nearly INR 48 billion in the reporting period.
Subramaniakumar further said the bank has not seen any impact on the portfolio due to the war in West Asia. "We remain very cautious by looking at all those things which are impacted by the petrol or other related ones," Subramaniakumar added.
The bank's total deposits grew to INR 1.25 trillion in the June quarter, 11% on year. "Our focus on the recent deposit growth will continue to be unwavered," Subramaniakumar said. He also said the bank will strengthen branch presence in relevant geographies. As on Jun. 30, the bank had 628 branches across the country. On Friday, shares of the lender closed 1.5% higher at INR 368.10 on the National Stock Exchange. End
Reported by Sagar Sen and Pratiksha
Edited by Deepshikha Bhardwaj
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