India's RBL Bank rises to about seven-year high after $3.4 billion FCNR deposit haul
03/09/2026 05:13
BUZZ-India's RBL Bank rises to about seven-year high after $3.4 billion FCNR deposit haul ** Shares of private-sector bank RBL Bank RATB.NS up 2.8% at 400.45 rupees--highest level since September 23, 2019
** Stock sees biggest pct jump in two weeks
** Co raises $3.4 billion of FCNR(B) deposits; loans extended by international banking unit against these deposits are $1.08 billion
** Deposit mobilitsation supported by co's promoted Emirates NBD and its subsidiaries, affiliates
** "This is an outsized haul for a mid-sized bank, representing ~26% of total deposits, ~37% of term deposits, and 2.7% market share in FCNR(B) mobilisation--a remarkable feat", says Citi ("buy", TP at 440 rupees)
** YTD, shares up 26.76%
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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