RBL Bank Limited (formerly known as Ratnakar Bank) was incorporated in 1943 in Kolhapur, Maharashtra. The name of the bank was changed from Ratnakar Bank to its present name, RBL Bank, in November 2014._x000D_ _x000D_ The bank commenced its operations at its International Financial Services Centre Banking Unit (IBU) in Gujarat International Finance Tec (GIFT) City, Gujarat in April 2017 and does not have a branch in any foreign country._x000D_ _x000D_ In August 2016, RBL Bank's maiden initial public issue was oversubscribed 70 times. The stock debuted at ₹273.70 on BSE on August 31, 2016, a 21.64% premium over the IPO price of ₹225 per share._x000D_ _x000D_ In October 2016, RBL Bank announced the acquisition of a 9.99% stake in Utkarsh Micro Finance Ltd. (UMFL) in what is a strategic move to reach out to the unbanked and underbanked segments of society. The bank is also entering into a MoU to extend its product portfolio to Utkarsh customers. The bank also lends to NeoGrowth, an NBFC that provides loans to SMEs that have low access to finance._x000D_ _x000D_ On November 30, 2016, RBL Bank announced that it had become the first bank in India to launch the Aadhaar Payment Bridge System (APBS) for microfinance loan disbursements._x000D_ _x000D_ On April 6, 2017, RBL Bank announced the opening of its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City). With this, RBL Bank has commenced offshore banking operations from India. This will help the company fund overseas subsidiaries of Indian companies._x000D_ _x000D_ During the year 2023, RBL Bank had a distribution network of 517 branches, 1,166 BC branches and 414 ATMs across the country._x000D_

Business Segments

_x000D_ The primary business segments of the bank are the following:_x000D_

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1. Personal Banking - This includes a very wide range of services such as savings accounts, term deposits, insurance, cards, loans, demat accounts, investment services, convenience banking and forex services.
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2. NRI Banking - This involves services in NRI savings accounts and money transfers.
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3. Preferred Banking - This covers different levels of personalised banking services.
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4. Business Banking - This includes providing credit to MSME and agriculture businesses.
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5. Wholesale Banking - This covers corporate finance and treasury services to wholesale clients.
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6. Corporate Banking - Similar to wholesale banking, these services facilitate corporate digital banking, including the BizBank app.
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7. India Startup Club - This includes providing tailored banking solutions as well as referrals for startups.
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_x000D_ In FY 2023, retail banking made up 53.8% of all advances, while wholesale banking made up the remaining 46.2%. Within retail banking, credit card advances formed the highest share, while in wholesale, corporate banking took up the top positions._x000D_ _x000D_ Subsidiaries: _x000D_ _x000D_ As of March 31, 2023, RBL Bank has one wholly-owned subsidiary, i.e. RBL FinServe Limited (RFL), formerly Swadhar Finserve Private Limited. It primarily serves as a captive business correspondent of RBL Bank. it is engaged in offering lending services to MSMEs and micro-banking services in rural and semi-urban areas._x000D_

Key Personnel

_x000D_ Mr. R Subramaniakumar, MD and CEO_x000D_ _x000D_ Mr. Subramaniakumar has over 40 years of experience as a leader in the banking domain. Before RBL Bank, he had served as the MD and CEO of Indian Overseas Bank and as an executive director of Indian Bank. Before that, he had worked for 33 years in Punjab National Bank, where he led the expansion of the bank abroad via subsidiaries. He has ample experience in enabling business transformation through process improvement, innovation and risk management, etc._x000D_ _x000D_ Mr. Rajeev Ahuja, Executive Director_x000D_ _x000D_ Before joining RBL Bank, Mr. Ahuja has held key positions in investment banking. Earlier, he was heading the investor sales business in South Asia for Citigroup, India. He also worked in the capital markets and investment banking divisions of Deutsche Bank in Asia. He has over 30 years of experience in the financial services industry._x000D_

Corporate Actions

_x000D_ The bank has not announced any buyback of shares, bonus issues, stock splits, or rights issues in recent times._x000D_ _x000D_ Mergers and Acquisitions_x000D_

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• On November 27, 2017, RBL Bank announced that it had increased its stake from 30% to 60.48% in Swadhaar Finserve Pvt. Ltd. (SFPL). The ownership was increased to 100% in 2019, and the subsidiary was renamed as RBL Finserv Ltd.
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• In August 2013, Ratnakar Bank announced that it had agreed to acquire Royal Bank of Scotland's banking business, credit cards business and mortgage portfolio in India, subject to approvals from the Competition Commission of India (CCI).
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