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RBL Bank has set a clear goal to triple its retail assets to INR 6,000 crore by FY26, focusing on expanding retail deposits to 55% of its total deposit base. The bank plans to enhance customer engagement using CRM-led strategies and cross-selling products like credit cards, insurance, and SIPs. With 80% of its current customers holding only one product, RBL Bank sees strong potential to deepen relationships. It also plans to grow gold, home, and business loans while gradually reducing dependence on wholesale liabilities.
RBL Bank is working on an ambitious growth plan for its retail banking division. The bank intends to triple its retail assets to INR 6,000 crore by FY26. A key part of this plan is increasing retail deposits from 35% to 52% of the total deposit mix in the near term, with a target of 55% for the fiscal year. Advertisement
The bank is also focusing on expanding its branch network and improving customer engagement. It plans to implement CRM-driven initiatives and bundled offerings that include credit cards, insurance, and SIPs to attract and retain retail customers. Currently, about 80% of its customers hold only one product, which presents a significant opportunity for cross-selling and building deeper relationships.
RBL Bank is set to grow its retail loan book, particularly gold, home, and business loans. Gold loans are expected to increase from INR 300 crore to INR 1,800 crore, while home and business loans are projected to rise from INR 1,700 crore to INR 5,000 crore. The bank sees this as a way to strengthen its retail portfolio and reduce reliance on wholesale funding.
Branch expansion is a central part of the strategy. RBL Bank aims to open 210 new branches over the next 2.5 years, increasing the total to 770 branches by FY28. At the same time, the bank plans to improve branch profitability from 37% to 60%, ensuring each branch contributes effectively to overall growth.
The bank also plans to leverage its strong wholesale banking operations to acquire more personal and salary accounts. By doing so, it expects to increase its customer base and create more opportunities for retail product cross-selling.
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