RBL Bank
 |
|
| Public | |
| Traded as | : : RBLBANK |
| Industry | Banking Financial services |
| Founded | August 1943 |
|
Key people
|
Vishwavir Ahuja, MD and CEO |
| Products | Corporate & Institutional Banking Commercial Banking Retail Banking Agri & Development Banking Financial Markets |
| ₹292 crore (US$43 million) (2016) | |
|
Number of employees
|
4622 (as on October 2016) |
| Website | rblbank.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. 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.
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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