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RBL Bank Ltd.
(RBLBANK)
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Rating:60Neutral
Price Target:
₹409.00
▲(15.88% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by mixed financial performance: strong revenue growth and post-2022 profitability recovery are offset by volatile cash flows, uneven profit trajectory versus the 2024 peak, and only moderate ROE with historically elevated leverage. Technicals are constructive with the stock above major moving averages and positive MACD, but momentum looks somewhat stretched short term. Valuation is a drag due to a relatively high P/E and very low dividend yield.
Positive Factors
Strong revenue expansion
Revenue surged materially in 2026 (about +142%), reflecting a durable step-up in scale and customer activity. A sustained higher revenue base supports net interest income and fee diversification, enabling reinvestment in distribution and product capabilities over the next 2–6 months.
Negative Factors
Inconsistent cash generation
Operating and free cash flow have swung materially across years, reducing confidence in internally generated funding. Persistent swings force reliance on external funding, complicate liquidity planning, and raise refinancing and capital distribution risk during stress periods over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue expansion
Revenue surged materially in 2026 (about +142%), reflecting a durable step-up in scale and customer activity. A sustained higher revenue base supports net interest income and fee diversification, enabling reinvestment in distribution and product capabilities over the next 2–6 months.
Read all positive factors
RBL Bank Ltd. (RBLBANK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹639.28B
Dividend Yield0.24%
Average Volume (3M)256.96K
Price to Earnings (P/E)29.5
Beta (1Y)1.47
Revenue Growth3.62%
EPS Growth46.01%
CountryIN
Employees22,857
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)13.94
Shares Outstanding1,551,642,500
10 Day Avg. Volume136,279
30 Day Avg. Volume256,960
Financial Highlights & Ratios
PEG Ratio0.94
Price to Book (P/B)1.06
Price to Sales (P/S)0.96
P/FCF Ratio4.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)14.03
Revenue Forecast (FY)₹126.78B
RBL Bank Ltd. Business Overview & Revenue Model
Company Description
RBL Bank Limited operates as a recognized commercial banking institution in India, structuring its services across Corporate/Wholesale Banking, Retail Banking, Treasury, and other financial operations. Its diverse range of deposit products feature...
How the Company Makes Money
RBL Bank primarily earns money through (1) net interest income: it raises funds via customer deposits and other borrowings and lends these funds through retail loans (such as personal/consumer lending and other retail credit) and wholesale/corpora...
RBL Bank Ltd. Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
60
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 187.14B | 184.64B | 179.83B | 153.22B | 121.16B | 107.96B |
| Gross Profit | 87.37B | 82.30B | 104.07B | 89.72B | 74.38B | 66.48B |
| EBITDA | 12.61B | 13.53B | 9.32B | 15.83B | 14.34B | -263.38M |
| Net Income | 8.99B | 8.79B | 7.17B | 12.60B | 9.20B | -1.66B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.81T | 1.47T | 1.38T | 1.16T | 1.06T |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 230.66B | 125.66B | 144.23B | 85.27B | 175.57B |
| Total Debt | 0.00 | 167.96B | 137.35B | 267.10B | 237.79B | 233.36B |
| Total Liabilities | -167.24B | 1.64T | 1.31T | 1.24T | 1.02T | 936.32B |
| Stockholders Equity | 167.24B | 167.24B | 156.70B | 148.37B | 135.26B | 125.30B |
Cash Flow | ||||||
| Free Cash Flow | -51.94B | 37.09B | -11.12B | 28.30B | -112.76B | 61.78B |
| Operating Cash Flow | -51.07B | 39.44B | -8.24B | 30.34B | -110.31B | 64.49B |
| Investing Cash Flow | -828.00M | -246.17B | -2.81B | -168.68B | -2.34B | -2.64B |
| Financing Cash Flow | 72.04B | 311.86B | -5.03B | 194.38B | 81.03B | -1.09B |
RBL Bank Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹227.68B | 13.06 | ― | 0.87% | 18.39% | 20.21% | |
63 Neutral | ₹744.31B | 25.82 | ― | 0.10% | 14.96% | 30.22% | |
63 Neutral | ₹692.59B | 29.77 | ― | 0.31% | 10.96% | 53.78% | |
60 Neutral | ₹639.28B | 29.51 | ― | 0.24% | 3.62% | 46.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹282.43B | 20.95 | ― | 0.86% | -2.19% | -34.11% | |
39 Underperform | ₹685.64B | 52.26 | ― | 0.17% | -6.52% | 31.06% |
* General Sector Average
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RBL Bank Ltd. Corporate Events
Moody’s assigns first-time Baa2 rating with stable outlook to RBL Bank
Jul 30, 2026
Moody’s Ratings has assigned first-time Baa2 long-term and P-2 short-term issuer and deposit ratings to RBL Bank Ltd. in both local and foreign currency, along with corresponding counterparty risk ratings and assessments, and a ba1 Baseline ...
RBL Bank to Host Global Investor Call on Q1 FY2027 Results
Jul 14, 2026
RBL Bank Limited has announced it will host an investor and analyst conference call on July 17, 2026, to discuss its unaudited financial results for the quarter ended June 30, 2026. The call will feature a management presentation on Q1 FY2027 perf...
ICRA assigns AAA issuer rating to RBL Bank after Emirates NBD capital infusion
Jul 7, 2026
Credit rating agency ICRA has assigned an issuer rating of [ICRA]AAA with a Stable outlook to RBL Bank and reaffirmed its top-tier ratings on Basel III Tier II bonds, fixed deposits, short-term fixed deposits and certificates of deposit. The move ...
RBL Bank Details Analyst and Investor Meetings Held in Mumbai
Jun 22, 2026
RBL Bank has disclosed the schedule and details of analyst and investor meetings held on June 22, 2026, in line with SEBI’s listing and disclosure regulations. The bank met one-on-one with Citigroup Global Markets India as an analyst, and wi...
RBL Bank Raises ₹26,000 Crore via Emirates NBD Stake, Revamps Board
Jun 18, 2026
RBL Bank has approved a substantial preferential allotment of 929.13 million fully paid equity shares at ₹280 per share to Emirates NBD Bank on a private placement basis, raising about ₹26,015.77 crore and significantly increasing its ...
J.P. Morgan Issues Takeover-Related Public Statement to RBL Bank Shareholders
Jun 1, 2026
J.P. Morgan India Private Limited has issued a detailed public statement to the shareholders of RBL Bank regarding a substantial acquisition of shares and a potential takeover in compliance with Indian securities regulations. The announcement indi...
Emirates NBD launches open offer for up to 26% stake in RBL Bank
Jun 1, 2026
Emirates NBD Bank, a Dubai-based public joint stock bank, has launched an open offer to acquire up to 415.59 million fully paid equity shares of RBL Bank at ₹280 per share in cash, plus applicable interest of ₹2.38, representing up to ...
Emirates NBD Launches Rs 117 Billion Open Offer for 26% Stake in RBL Bank
May 22, 2026
RBL Bank has disclosed that it has received a Letter of Offer related to an open offer by Emirates NBD Bank for acquiring a significant stake in the bank. The offer, managed by J.P. Morgan India, proposes to purchase up to 415.6 million equity sha...
RBL Bank Increases Paid-Up Capital with New ESOP Share Allotment
May 11, 2026
RBL Bank Limited has allotted 354,973 equity shares with a face value of Rs. 10 each to eligible employees following the exercise of vested stock options under its employee stock option schemes. This allotment reflects the bank’s ongoing use...
RBL Bank Secures RBI Nod for AoA Changes Tied to Emirates NBD Deal
May 7, 2026
RBL Bank has received approval from the Reserve Bank of India for amendments to its Articles of Association under the Banking Regulation Act, 1949. The changes include revisions to director nomination rights associated with Emirates NBD Bank (P.J....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.