NSE: RBLBANK | BSE: 540065 | INDUSTRY : BANKS | SECTOR : BANKING AND FINANCE

RBL Bank Ltd.

Expensive Performer

166.90 2.25 (1.37%)

72.06% Fall from 52W High

Volume: 28.1M

NSEJul 16, 2020 15:31

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Durability score
55/100
Medium Financial Strength
Valuation score
29.8/100
Expensive Valuation
Momentum score
38.3/100
Technically Neutral
10S
7W
4O
4T


RBL Bank Ltd.    
30 Jun 2020
166.90
1.37%
buy
by HDFC Securities
Target: 136 | Upside : 18.5%
HDFC Securities
We maintain our REDUCE rating with a TP of Rs 136, as we believe that RBK faces challenges on both sides of the b/s- potential stress from high unsecured loan exposure and a weak deposit franchise. Key takes from RBKs FY20 AR are as follows: (1) The share of top 20 depositors increased 40bps to 18.8% despite the ~1% (and ~8.1% QoQ in 4QFY20) fall in overall deposits. AR commentary indicates that the bank continues to focus on bulk deposits. (2) The bank appeared to have made some progress on asset-side granularity and this appears to be the focus, which is desirable in context of FY20 asset quality trends. (3) Borrowings from institutions and agencies and the RBI contributed to a majority of incremental borrowings, and overall borrowings grew at ~4x total assets. (4) Segment-wise asset quality data was in line with expectations. These disclosures concur with our stance on the bank.
RBL Bank Ltd. has an average target of 219.14 from 9 brokers.
RBL Bank Ltd.    
18 May 2020
166.90
1.37%
buy
by Geojit BNP Paribas
Target: 126 | Target met
Geojit BNP Paribas
RBL Bank Ltd. is a fast-growing private sector bank with a network of 386 branches and over 8.5 million customers. It offers various services, including corporate and institutional banking, commercial banking, retail...
HDFC Securities released a Sell report for RBL Bank Ltd. with a price target of 136.0 on 30 Jun, 2020.
RBL Bank Ltd.    
12 May 2020
166.90
1.37%
buy
by Chola Wealth Direct
Chola Wealth Direct
Background: RBL bank (RBL) came into operations in 1943 and was incorporated as a small, regional bank in Maharashtra with two branches in Kohlapur and Sangli. Post the change in the management team in 2010, it has been one among the fastest growing private sector banks and now has 386 interconnected branches and 389 interconnected ATMs spread across 24 Indian states and union territories serving ~8.4mn customers. The bank offers a comprehensive range of banking products and services customized to cater to the needs of large corporations, SMEs, agricultural customers, retail customers and development banking & financial inclusion (low income) customers. Loan book of the bank grew at a CAGR of 46% over FY11 to FY20 and stood at...
RBL Bank Ltd. has lost -71.15% in the last 1 Year
RBL Bank Ltd.    
08 May 2020
166.90
1.37%
buy
by HDFC Securities
Target: 136 | Target met
HDFC Securities
Despite the sharp correction over a period, we maintain our REDUCE rating (TP of Rs 136, (0.6x Mar-22E ABV)), given elevated risks and sub-par expected return ratios. RBKs 4Q earnings were higher vs. estimates on a/c of sharper than expected margin expansion (not sustainable) and lower than expected LLPs (elevated nevertheless, to persist). B/s growth was constrained as deposits dipped 8% QoQ. RBK faces challenges on both sides of the b/s- potential stress from high unsecured loan exposure and a weak deposit franchise
RBL Bank Ltd. has lost -11.29% in the last 1 Week
RBL Bank Ltd.    
08 May 2020
166.90
1.37%
buy
by Nirmal Bang Institutional
Target: 188 | Target met
Nirmal Bang Institutional
RBL Bank has reported a better-than-expected result on the operational front, beating our NII and PPOP estimates by 9% and 12%, respectively. The deviation from our estimates was almost entirely on account of an all-time high NIM of 4.93% for the quarter, expanding by 70bps YoY/36bps QoQ. Noninterest income was impacted to the extent of Rs150mn due to the lockdown. Opex grew by 28.7% YoY/11.7% QoQ. Operating profit for the quarter was up 36.6% YoY/4.5% QoQ, driven by 38.2% YoY/10.7% QoQ growth in NII. Loan book growth decelerated to 6.8% YoY, while on a sequential basis, it was down 2.7%. The loan book movement was largely a function of the planned portfolio recalibration (de-bulking of wholesale book). On the liabilities front, deposits have now stabilized post witnessing some decline in Mar'20. LCR remained comfortable, averaging 164% during 4QFY20 and...
RBL Bank Ltd. has lost -51.80% in the last 6 Months
RBL Bank Ltd.    
07 May 2020
166.90
1.37%
buy
by Motilal Oswal
Target: 180 | Target met
Motilal Oswal
7 May 2020 RBK reported weak business trends, weighed by decline in wholesale assets and deposit outflows. Higher provisions impacted earnings, but slippages moderated on a sequential basis, enabling improvement in the coverage ratio. Asset quality is expected to remain under watch as 33% of the loan book availed moratorium, with management guiding for elevated credit costs in credit cards/MFI/MSME portfolio. We cut our PAT estimate for FY21/FY22 by 6%/5%, primarily as we factor in moderation in fee income, led by reduced economic activity / lockdown. 4QFY20 PAT stood at ~INR1.1b (54% YoY decline), affected by higher provisions of INR6.1b. NII grew 38% YoY to INR10.2b, led by 36bp QoQ margin expansion to ~4.9%. Other income increased 22% YoY to INR5.0b, with core fee income growth of 21% YoY, impacted by lockdown. Overall, PPoP growth remains strong at 37% YoY to INR7.6b. In FY20, NII/PPOP rose at 43%/42% YoY, while PAT declined 42% YoY, affected by high provisions.
default
RBL Bank Ltd. has an average target of 219.14 from 9 brokers.
RBL Bank Ltd.    
07 May 2020
166.90
1.37%
buy
Accumulate: RBL Bank Ltd.
by BOB Capital Markets Ltd.
Target: 145 | Target met
BOB Capital Markets Ltd.
RBL Bank's (RBK) Q4FY20 PAT at Rs 1.1bn (54% YoY) was ahead of estimates due to an NII beat.
default
RBL Bank Ltd. is trading above it's 100 day SMA of 166.5
RBL Bank Ltd.    
28 Jan 2020
166.90
1.37%
buy
by Angel Broking
Angel Broking
Outlook & Valuation: RBL Bank's fresh set of stressed pool would push back ROA of 1.5% to Q2FY2021. However, for the next couple of quarters key monitorable will be no further addition to stress book and BB & Below book. We expect RBL Bank to grow its advances at CAGR of 22% over FY2019-21E. Improvement
RBL Bank Ltd. has lost -51.80% in the last 6 Months
RBL Bank Ltd.    
23 Jan 2020
166.90
1.37%
buy
Neutral: RBL Bank Ltd.
by HDFC Securities
Target: 348 | Upside : 108.5%
HDFC Securities
Asset quality deterioration was on expected lines, and from pre-identified stressed pools. However, we remain cautious on RBK's asset quality for the following reasons (1) 3QFY20 saw a sharp ~Rs 7bn rise in BB and below rated corp loans, (2) Recent asset quality trends reflect poorly on underwriting and risk practices , and (3) Broader economic conditions. While the capital raise is a big positive and will support the bank's growth trajectory, it does not entirely mitigate the above risks. We maintain NEUTRAL. Yet again RBKs PPOP was better than expected, due to sharp NIM improvement and one-off staff cost reversals. PAT was above estimates, even as provisions remained elevated. Slippages remained high, and were mostly from anticipated stress. Maintain NEUTRAL with a TP of Rs 348 (1.5x Dec-21E ABV of Rs 232).
RBL Bank Ltd. is trading above it's 100 day SMA of 166.5
RBL Bank Ltd.    
23 Jan 2020
166.90
1.37%
buy
by Chola Wealth Direct
Target: 286 | Target met
Chola Wealth Direct
Background: RBL bank (RBL) came into operations in 1943 and was incorporated as a small, regional bank in Maharashtra with two branches in Kohlapur and Sangli. Post the change in the management team in 2010, it has been one among the fastest growing private sector banks and now has 346 interconnected branches and 383 interconnected ATMs spread across 24 Indian states and union territories serving ~7.8mn customers. The bank offers a comprehensive range of banking products and services customized to cater to the needs of large corporations, SMEs, agricultural customers, retail customers and development banking & financial inclusion (low income) customers. Loan book of the bank grew at a CAGR of 52% over FY11 to FY19 and stood at INR 596bn as of 3QFY20...
RBL Bank Ltd. has gained 34.54% in the last 3 Months