RBL Bank Limited held a telephonic one-on-one investor meeting with HDFC Life Insurance Company Ltd on October 14, 2026. The interaction took place in Mumbai and was disclosed in compliance with SEBI listing regulations.

The bank confirmed that no unpublished price sensitive information (UPSI) was shared during the meeting. This disclosure aligns with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Details

The specific particulars of the investor engagement are outlined below:

Regulatory Compliance

In accordance with Regulation 46(2) of the SEBI Listing Regulations, RBL Bank hosted the information on its official website. The filing was signed by Niti Arya, Company Secretary, on October 15, 2026.

RBL Bank reported a net profit of ₹482 crore for the quarter ended September 30, 2026 (Q2FY27), marking a 169% increase from ₹178.5 crore in the year-ago quarter. The bank's total income grew significantly, driven by robust interest income and improved asset quality metrics.

The bank's interest earned stood at ₹4,322 crore in Q2FY27, up from ₹3,507 crore in Q2FY26. Total income, including other income, reached ₹5,399 crore, compared to ₹4,440 crore in the corresponding period last year. The substantial rise in profitability was supported by lower provisioning costs relative to the sharp increase in operating profit before provisions.

Key financial highlights

The following table summarizes the standalone financial performance for Q2FY27 compared to previous periods:

Note: Figures converted from ₹ lakh to ₹ crore for readability. EPS is not annualized.

Operating performance and margins

Net Interest Income (NII) grew 37% YoY to ₹2,131 crore, with the Net Interest Margin (NIM) expanding to 4.61% from 4.51% in Q2FY26. Other Income rose 16% YoY to ₹1,077 crore, while Core Fee Income increased 12% YoY to ₹1,040 crore. Net Total Income grew 29% YoY to ₹3,208 crore.

Operating Expenses grew modestly by 3% YoY to ₹1,812 crore, driving the Cost to Income ratio down to 56.5% from 64.7% in Q1FY27 and 70.67% in Q2FY26. Credit costs stood at 63 bps for the quarter.

Balance sheet growth and guidance

Net Advances grew 42% YoY to ₹142,314 crore, with a Retail:Wholesale mix of 56:44. Retail advances expanded 32% YoY to ₹79,465 crore, driven by secured retail assets which grew 52% YoY to ₹51,933 crore. Unsecured retail advances saw slower growth of 6% YoY. Wholesale advances surged 56% YoY to ₹62,849 crore, with Commercial Banking growing 47% YoY.

Total Deposits increased 34% YoY to ₹156,272 crore. The CASA ratio stood at 27.2%, while granular deposits (less than ₹3 crore) grew 16% YoY to ₹68,877 crore, constituting 44% of total deposits. Average CASA ratio was reported at 24.04% in the investor presentation, reflecting a shift towards term deposits which constituted 76% of average deposits in Q2FY27.

Looking ahead, RBL Bank projects loan growth of over 25% for FY27, aiming to exceed the industry average. Specific segment growth expectations include high single-digit to low double-digit growth for credit cards next year, and around 25% year-on-year growth for microfinance. Management expects better profits following the capital boost and growth in Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits.

Asset quality and capital adequacy

RBL Bank demonstrated significant improvement in asset quality during the quarter. The Gross Non-Performing Assets (GNPA) ratio declined to 1.02% as of September 30, 2026, down from 2.32% in Q2FY26 and 1.30% in Q1FY27. Similarly, the Net NPA ratio improved to 0.29%, from 0.57% in the year-ago quarter. The Provision Coverage Ratio (PCR) including technical write-offs was 95.31%, while standalone PCR stood at 71.47%.

Slippages showed a consistent downward trend, with gross slippages falling to 0.77% in Q2FY27 from 0.98% in Q2FY26. Management forecasts slippages to drop significantly, with credit card slippages estimated at about 400 bps for Q3/Q4 FY27. Credit costs on cards are expected to reduce from low double-digits to the 5.5% to 6% range.

The bank's Capital Adequacy Ratio (CRAR) under Basel III stood at 30.10%, substantially higher than the 14.71% recorded in Q2FY26, though slightly lower than 33.3% as of June 30, 2026. CET-1 ratio was 29.0%. This capital buffer reflects the impact of the preferential allotment to Emirates NBD, which invested ₹26,015.77 crore in June 2026, making it a 60% promoter and subsidiary parent of RBL Bank. Average Liquidity Coverage Ratio (LCR) for the quarter was 148%.

Segment performance

Retail Banking remained the largest revenue contributor with segment revenue of ₹4,490 crore, though it posted a loss before tax of ₹181 crore. Corporate/Wholesale Banking generated revenue of ₹2,434 crore with a profit before tax of ₹252 crore. The Treasury segment contributed significantly to profitability, recording a profit before tax of ₹480 crore on revenue of ₹3,212 crore.

Retail liabilities grew 38% YoY, with Term Deposits reaching ₹727.49 billion on an average basis. Credit card portfolio trends showed cards in force rising to 4.72 million, with new acquisitions hitting 0.39 million in the quarter. Total spends on cards increased to ₹214.31 billion.

What the Numbers Show

The divergence between the strong growth in Treasury profits (₹480 crore vs -₹8 crore in Q2FY26) and the continued losses in Retail Banking (-₹181 crore) indicates that the current quarter's earnings surge was heavily driven by treasury operations rather than core retail lending recovery. While asset quality has improved sharply, the Retail segment remains a drag on consolidated profitability despite contributing nearly half of the total segment revenue. Additionally, the significant expansion in Wholesale advances (56% YoY) versus Retail (32% YoY) suggests a strategic shift towards corporate lending, supported by the improved NIM of 4.61%. The decline in average CASA ratio to 24.04% alongside a 34% jump in total deposits highlights a reliance on costlier term deposits to fund this rapid asset growth.

Management's guidance for a slight decrease in NIM for Q3FY27, followed by a gradual increase in Q4FY27 depending on loan deployment speed, suggests near-term margin pressure despite the strong Q2 performance. The projected reduction in credit card costs to the 5.5%-6% range signals a targeted effort to stabilize this volatile asset class. The new guidance of exceeding 25% loan growth implies aggressive deployment of the newly infused capital, potentially offsetting near-term margin dips through volume-led income growth.

Regulatory filings and public disclosure

The Board of Directors approved the unaudited standalone and consolidated financial results at its meeting held on October 12, 2026. Joint statutory auditors KKC & Associates LLP and Singhi & Co. issued an unmodified conclusion on the limited review of these results.

In compliance with Regulation 47(1) of the SEBI Listing Regulations, extracts of these results were published in Financial Express (English daily) and Lokmat (Marathi daily) on October 13, 2026. The full details are hosted on the bank's website.

RBL Bank hosted an investor and analyst conference call on October 12, 2026, at 7:00 pm IST. The session was led by R Subramaniakumar, Managing Director & CEO, along with senior management members, covering performance details and an interactive Q&A segment. Pursuant to Regulation 30 and 46(2) of the SEBI Listing Regulations, the audio recording of this earnings call was made available on the bank's website on October 12, 2026. The transcript of the call will also be hosted on the website in compliance with regulatory requirements.