RBL Bank raises $150 million via FCNR route, eyes NRI deposits to fund next leg of growth
RBL Bank has successfully secured $150 million in funding through Foreign Currency Non-Resident (FCNR) deposits, supported by Emirates NBD. The capital raise is part of a broader strategy to leverage NRI deposits to fuel future balance sheet growth and trade finance operations.
RBL Bank has raised $150 million through the FCNR route as it seeks to diversify its liability profile and tap into the Non-Resident Indian (NRI) segment. This funding initiative was backed by Emirates NBD, marking a significant step in the bank's efforts to secure low-cost foreign currency deposits to support its expanding credit requirements.
The private sector lender intends to use the proceeds to strengthen its focus on trade finance and corporate lending while working toward margin recovery. Management has indicated that stabilising the credit card portfolio remains a priority as the bank transitions into its next phase of scaling operations.
By expanding its NRI funding base, RBL Bank aims to build a more resilient deposit structure to mitigate fluctuations in domestic liquidity. This move aligns with the bank's long-term goal of improving its cost-to-income ratio and enhancing institutional stability. Source: Emirates NBD.
