RBLBANK
RBL Bank share price & financials
- Price
- ₹378.85
- Market cap
- ₹64.2k Cr
- Sector
- Financial Services
- Calls analysed
- 6
RBL Bank Q3 FY26
What went well
- Net advances grew 14% year-on-year and 3% sequentially to ₹1,03,086 crores.
- Net Interest Margin (NIM) increased by 12 bps sequentially to 4.63%.
- Pre-Operating Profit (PPOP) was ₹912 crores, up 25% sequentially.
What to watch
- Credit card slippages remain slightly elevated and are expected to continue for 2 more quarters.
- A gratuity provision of ₹30 crores impacted net profit for the quarter.
What RBL Bank does
RBL Bank Limited is a private-sector scheduled commercial bank in India, incorporated in 1943 and headquartered in Mumbai. It runs two core lines: Retail Banking, spanning credit cards, personal loans, joint-liability-group (JLG) microfinance, gold loans, housing loans, business loans, rural vehicle finance and agri loans, funded largely through CASA and retail term deposits; and Wholesale Banking, comprising Corporate Banking and Commercial Banking lending to large corporates and mid-market clients. The bank sources and services customers through a network of owned branches, business-correspondent (BC) branches and ATMs spread across India, alongside digital banking channels.
Segments
- Retail Banking
- Wholesale Banking
- Branches
- 603
- Business Correspondent (BC) branches
- 1,339
- ATMs
- 415
- Customers
- 15.16 Mn
- Geographic reach
- 600+ districts and 18,000+ pincodes across India
- Credit cards in force
- 4.63 Mn
Guidance record · Q3 FY26
what the last two calls moved 16 tracked 3 delivered 5 missed 8 open- Equity Capital Raise delivered said Q4 FY24 Promised: good for at least 12 months, post which we should be looking to raise capital Q3 FY26: Promise remains achieved. Regulatory approvals for the Emirates NBD transaction are in progress, with management expecting them by Q1 FY27.
- ROA went quiet said Q4 FY24 Promised: 1.4% at the end of 2026 Q3 FY26: The original 1.4% ROA target, or the revised 1% target, was not mentioned. Focus remains on post-deal metrics which are not yet finalized.
- Slippages (Cards & MFI) delayed said Q1 FY25 Promised: stabilize and improve Q3 onwards Q3 FY26: Timeline pushed out again. Management now expects card slippages to remain elevated for '2 more quarters' and normalize by September (Q2 FY27).
All 16 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 11.6%, net profit up 27.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,531 | 3,536 | 3,476 | 3,441 | 3,507 −1% | 3,667 +4% | 3,720 +7% | 3,840 +12% |
| Net profit | 223 | 33 | 69 | 200 | 179 −20% | 214 +548% | 230 +233% | 254 +27% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +51.5% 1Y
1Y: ₹272.4 on 10 Sept 2025 → ₹412.55. High ₹418.5 (8 Sept 2026), low ₹264.4 (17 Sept 2025).
How the price took the results
close before → close after
- Q3 FY26
- −6.7%
- 17 Jan
- Q2 FY26
- +9.1%
- 19 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 14.6% a year over 3 years, FY23 to FY26.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹9.5k Cr | ₹12.4k Cr | ₹14.0k Cr | ₹14.3k Cr |
| Interest | ₹4.7k Cr | ₹6.4k Cr | ₹7.6k Cr | ₹8.0k Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹883 Cr | ₹1.2k Cr | ₹697 Cr | ₹823 Cr |
| Net margin | 9.3% | 9.4% | 5.0% | 5.7% |
| Cash from operations | ₹-11.0k Cr | ₹4.9k Cr | ₹-846 Cr | ₹7.6k Cr |
| Free cash flow | ₹-11.3k Cr | ₹4.8k Cr | ₹-1.1k Cr | ₹7.4k Cr |
| ROE | 7.0% | 8.0% | 5.0% | 5.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹598 Cr | ₹600 Cr | ₹600 Cr | ₹605 Cr | ₹613 Cr | ₹618 Cr |
| Reserves | ₹12.1k Cr | ₹12.0k Cr | ₹13.0k Cr | ₹14.2k Cr | ₹15.2k Cr | ₹16.0k Cr |
| Borrowings | ₹11.2k Cr | ₹11.1k Cr | ₹13.3k Cr | ₹14.2k Cr | — | ₹16.8k Cr |
| Deposits | ₹73.1k Cr | ₹79.0k Cr | ₹84.9k Cr | ₹103.5k Cr | — | ₹139.0k Cr |
| Other liabilities | ₹3.6k Cr | ₹3.5k Cr | ₹4.1k Cr | ₹6.0k Cr | ₹6.2k Cr | ₹8.3k Cr |
| Total liabilities | ₹100.7k Cr | ₹106.2k Cr | ₹115.9k Cr | ₹138.4k Cr | ₹154.0k Cr | ₹180.7k Cr |
| Fixed assets | ₹442 Cr | ₹467 Cr | ₹529 Cr | ₹525 Cr | ₹544 Cr | ₹545 Cr |
| Capital work in progress | ₹24 Cr | ₹82 Cr | ₹45 Cr | ₹7 Cr | ₹0 Cr | ₹21 Cr |
| Investments | ₹23.2k Cr | ₹22.3k Cr | ₹28.9k Cr | ₹29.6k Cr | ₹28.8k Cr | ₹32.1k Cr |
| Other assets | ₹77.0k Cr | ₹83.4k Cr | ₹86.4k Cr | ₹108.3k Cr | ₹124.6k Cr | ₹148.0k Cr |
| Total assets | ₹100.7k Cr | ₹106.2k Cr | ₹115.9k Cr | ₹138.4k Cr | ₹154.0k Cr | ₹180.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +60.00 pp while the public trimmed −33.51 pp. The shareholder count shrank 17% to 3,20,792.
- Promoters
- 60.0%
- FIIs
- 8.8%
- DIIs
- 16.9%
- Government
- 0.1%
- Public
- 14.2%
Since Jun 2025
- Promoters +60.00 pp
- Public −33.51 pp
- DIIs −17.45 pp
How it drifted, 12 quarters
Over this window promoters went from 0.0% to 60.0% — +60.0 pp.
Ownership split by quarter, oldest first. Sep '23: FIIs 30.0%, DIIs 19.1%, Government 0.4%, Public 50.5%.Dec '23: FIIs 28.3%, DIIs 19.3%, Government 0.4%, Public 52.0%.Mar '24: FIIs 25.1%, DIIs 20.1%, Government 0.4%, Public 54.3%.Jun '24: FIIs 28.5%, DIIs 20.3%, Government 0.4%, Public 50.8%.Sep '24: FIIs 14.6%, DIIs 26.6%, Government 0.4%, Public 58.4%.Dec '24: FIIs 13.4%, DIIs 17.7%, Government 0.4%, Public 68.5%.Mar '25: FIIs 14.4%, DIIs 20.8%, Government 0.4%, Public 64.4%.Jun '25: FIIs 17.6%, DIIs 34.4%, Government 0.4%, Public 47.7%.Sep '25: FIIs 15.5%, DIIs 35.3%, Government 0.4%, Public 48.9%.Dec '25: FIIs 21.9%, DIIs 39.7%, Government 0.3%, Public 38.0%.Mar '26: FIIs 20.2%, DIIs 43.0%, Government 0.4%, Public 36.4%.Jun '26: Promoters 60.0%, FIIs 8.8%, DIIs 16.9%, Government 0.1%, Public 14.2%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Emirates NBD Bank (P.J.S.C.) newly disclosed 60.00% held
- Emirates Money Consumer Finance LLC newly disclosed 0.00% held
- Emirates Funds LLC newly disclosed 0.00% held
- Emirates NBD Capital (KSA) LLC newly disclosed 0.00% held
- Emirates NBD Trust Company (Jersey) Limited newly disclosed 0.00% held
- Emirates NBD Global Services LLC newly disclosed 0.00% held
- ENBD London Branch Nominee Company newly disclosed 0.00% held
- Emirates NBD Egypt S.A.E. newly disclosed 0.00% held
The same filing shows 7 holders trimming and 13 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of RBL Bank above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Emirates NBD Bank (P.J.S.C.) | 60.00% | newly disclosed |
| Quant Mutual Fund - Quant Small Cap Fund Mutual fund | 2.64% | −3.49 pp |
| Invesco India Arbitrage Fund Mutual fund | 1.49% | −2.50 pp |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund Mutual fund | 1.28% | −0.88 pp |
| Smallcap World Fund, Inc Global fund house | 1.21% | −1.83 pp |
| SBI Small Cap Fund Mutual fund | 1.12% | −1.23 pp |
| Kotak Mahindra Trustee Co Ltd A/C Kotak Multicap Fund Mutual fund | 1.04% | −1.66 pp |
| HSBC Mutual Fund - HSBC Midcap Fund Mutual fund | 1.03% | −2.48 pp |
| Emirates Money Consumer Finance LLC | 0.00% | newly disclosed |
| Emirates Funds LLC | 0.00% | newly disclosed |
| Emirates NBD Capital (KSA) LLC | 0.00% | newly disclosed |
| Emirates NBD Trust Company (Jersey) Limited | 0.00% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in RBLBANK
Filings to Aug 2026
1 new, 6 added, 4 trimmed, 2 sold out — net −6.91 L shares (−2.0%).
- Held by funds
- ₹1.3k Cr
- 16 schemes
- Biggest holder
- Nippon India Growth Mid Cap Fund
- ₹342 Cr · 0.7% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹342 Cr | held | Jul '26 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹340 Cr | held | Oct '22 |
| SBI Flexicap Fund SBI Mutual Fund | ₹230 Cr | held | Apr '26 |
| SBI Arbitrage Fund SBI Mutual Fund | ₹114 Cr | −1.56 L | Jan '25 |
| Nippon India Multi Asset Allocation Fund Nippon India Mutual Fund | ₹64 Cr | held | Apr '25 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹37 Cr | +0.12 L | Mar '22 |
| Nippon India Arbitrage Fund Nippon India Mutual Fund | ₹35 Cr | −5.02 L | Mar '25 |
| HDFC Dividend Yield Fund HDFC Mutual Fund | ₹34 Cr | −1.00 L | Oct '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
6 added, 4 trimmed — net −6.91 L shares (−2.0%)
- Funds are sitting on
- +28%
- vs est. average cost
- Held by funds
- ₹1.3k Cr
- 16 schemes · ≈ 2.0% of the company
- Biggest holder
- Nippon India Growth Mid Cap Fund
- ₹342 Cr · 0.7% of that fund
- Longest holder
- SBI Nifty Private Bank ETF
- 5y 1m · since Aug '21
Shares held by these funds +57%
Aug '23 3.50 cr shares Jul '26
All earnings calls (6)
Read the Q3 FY26 call →Learn to analyse RBL Bank
Guides on how to read this kind of business and the numbers that matter.