RBL Bank Share Price Slips 5%; Extends 5-Day Losing Streak

On December 20, 2024, RBL Bank’s share price (NSE: RBLBANK) traded 5% lower at ₹155.27 as of 10:20 AM on the NSE. The stock opened at ₹165, slightly higher than the previous close of ₹164.33. Since December 12, 2024, RBL Bank’s stock has experienced a significant decline, dropping from ₹173.64 to ₹155.20 on December 20, 2024.

RBL Bank Revises FD Rates

In the latest development, as per news reports, RBL Bank has revised its fixed deposit interest rates, effective from December 15, 2024. The updated rates range from 4% to 8.5% per annum.

General citizens can earn up to 8% interest on a 500-day FD, while senior citizens are eligible for a higher rate of 8.5%.

The bank also offers 7.8% on FDs with tenures between 453 and 499 days, as well as for 501 to 545 days and 546 days to 24 months.

For senior citizens, an additional 50 basis points are provided. For short-term FDs of 7 days to 1 year, the bank offers interest rates between 3.5% and 7.5%. Senior citizens and super senior citizens enjoy extra benefits across all tenures.

Q2 FY25 Financial Highlights

Private lender RBL Bank reported a 24% decline in net profit, which stood at ₹223 crore for the quarter ending September 2024 (Q2FY25), primarily due to a significant rise in expenses.

The bank’s net interest income increased by 9%, reaching ₹1,615 crore compared to ₹1,475 crore in the same period last year. However, the net interest margin decreased to 5.04% for Q2FY25, down from 5.54% in the corresponding quarter of the previous year and from 5.67% in June 2024.

Additionally, the cost of funds rose to 5.59%, compared to 4.92% in the same quarter last year.

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