Emirates NBD Stake Approval Boosts RBL Bank Shares 6%

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AuthorAnanya Iyer|Published at:
Emirates NBD Stake Approval Boosts RBL Bank Shares 6%
Overview

RBL Bank shares surged nearly 6% on Monday following Reserve Bank of India (RBI) approval for Emirates NBD Bank to acquire up to 74% stake. The lender also reported robust Q4 business growth, with total deposits up 25% year-on-year and gross advances climbing 22%. Analysts maintain a 'Buy' rating, citing exceptional performance and potential upside.

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RBI Approves Emirates NBD Stake

The Reserve Bank of India has granted approval for Dubai-headquartered Emirates NBD Bank (PJSC) to acquire up to 74% of RBL Bank. This move positions the UAE lender as a promoter holder. While Emirates NBD's voting rights will be capped at 26% under banking regulations, the approval signifies a key development for the Indian private lender.

RBL Bank Posts Strong Q4 Growth

The regulatory nod coincides with RBL Bank's robust Q4 business update, which detailed significant financial expansion. Total deposits rose 25% year-on-year to ₹1,39,037 crore, and gross advances climbed 22% year-on-year to ₹1,15,488 crore. The bank also reported a 23% year-on-year increase in CASA deposits, reaching ₹46,723 crore and maintaining a CASA ratio of 33.6%.

Analysts Maintain 'Buy' Rating

Motilal Oswal Financial Services reaffirmed its 'Buy' rating on RBL Bank, highlighting its exceptional fourth-quarter growth. Analysts pointed to strong performance in both advances and deposits, contributing to a 24% year-on-year increase in total business. Technical analysts observed that the stock, after consolidating near its 200-day moving average, appears set to retest recent highs around ₹340. They suggest dips toward ₹310-₹305 present accumulation opportunities for long-term investors. RBL Bank shares have notably outperformed the market, delivering an 80% return over the past year.

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