RBL Bank shares were in focus on March 4, after the Maharashtra State GST Department conducted a search operation at three of its offices. The search operation is being conducted under Section 67 of the Maharashtra Goods and Services Tax (MGST) Act, 2017.
The bank confirmed that it is fully cooperating with the authorities by providing all required data. RBL Bank stocks were trading at ₹151.89 at 9:18 AM, 2.1% below the last session’s close.
Amid regulatory scrutiny, RBL Bank has appointed key leaders to strengthen its retail banking operations. It has appointed Narendra Agrawal as President & Head of Branch Banking and Retail Liabilities and T.S. Pari as Chief Operations Officer (COO).
- Narendra Agrawal, with over 25 years of banking experience, will focus on deposit growth, customer engagement, and asset sales integration.
- T.S. Pari, who has held leadership positions in both foreign and private sector banks, will focus on operations, customer strategies, and risk management.
The bank’s MD & CEO R. Subramaniakumar stated that these leadership appointments are part of a broader transformation agenda to improve operational efficiency.
Financial Performance Decline
RBL Bank’s net profit for Q3 FY25 fell 86% year-on-year to ₹32.63 crore. Quarter-on-quarter, the net profit fell 85%. Gross NPA ratio stood at 2.92% as of December 31, 2024, slightly higher than 2.88% in the previous quarter.
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Source: Moneycontrol.
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