RBL Bank shares jumped 5% to hit a 52-week high of ₹409 on the NSE on Thursday, September 3, following the announcement of its successful FCNR deposit mobilisation. The stock has demonstrated remarkable momentum, gaining more than 23% so far in 2026, with the latest surge reflecting strong investor confidence in the bank's strategic fundraising efforts. The impressive rally comes as the private sector lender successfully mobilised $3.4 billion (₹32,472 crore) through the Reserve Bank of India's special FCNR(B) swap facility by August 31, 2026, as reported in an exchange filing. At 10:14 AM on Thursday, RBL Bank quoted 4% higher at ₹405.05, compared to a 0.32% rise in the BSE Sensex, with the stock trading higher for the third straight day. The market response was particularly strong with average trading volume jumping over six-fold, with a combined 9.73 million equity shares changing hands on the NSE and BSE.
RBL Bank successfully mobilised $3.4 billion (₹32,472 crore) through the Reserve Bank of India's special FCNR(B) swap facility by August 31, 2026, as reported in an exchange filing. The bank's international banking unit provided loans worth $1.08 billion (₹10,309 crore) against these deposits. According to Rediff Money, the deposit mobilisation was supported by RBL Bank's promoter, Emirates NBD, and its subsidiaries and affiliates, leveraging the strong UAE-India corridor. Under the FCNR(B) scheme, banks offer attractive interest rates to mobilise foreign currency deposits, which are foreign currency-denominated fixed deposits with both principal and interest repayable in the same foreign currency.
RBL Bank's board is scheduled to meet on September 7, 2026 to consider and approve establishing an Euro Medium-Term Note (EMTN) Programme and enabling the issuance of foreign currency bonds, notes, or any other debt securities. Under the proposed programme, the bank may issue foreign currency bonds, notes or other debt securities from time to time through one or more tranches, subject to market conditions and applicable regulatory requirements. The proposed fundraising will be undertaken through permissible modes under the EMTN Programme and in accordance with applicable laws, with the securities not being offered or sold to any investor in India. This strategic decision comes after Emirates NBD Bank acquired a 60% stake in RBL through a preferential equity infusion of ₹26,016 crore in June 2026. With ENBD's induction as promoter, the bank is expected to receive strong strategic, managerial and operational oversight from the parent.
RBL Bank delivered robust financial results in Q1 FY27, with standalone net profit surging 26.64% year-on-year to ₹253.70 crore compared to ₹200.33 crore in Q1 FY26. Total income increased 6.40% year-on-year to ₹4,799.68 crore in Q1 FY27. The bank's total deposits grew 11% year-on-year to ₹1.25 lakh crore as of June 30, 2026, reflecting strong deposit mobilisation efforts. RBL Bank serves over 15 million customers through a robust network of 628 branches, 1,339 business correspondent branches (of which 251 banking outlets) spread across 28 Indian states and union territories, offering comprehensive banking products and services to individual customers, small and medium enterprises, large corporations, and governments.
Following the capital infusion and strategic support from Emirates NBD, Moody's expects RBL's business profile to undergo significant transformation over the next two to three years. Management's strategy focuses on strengthening the bank's franchise and competitive position through investments in its branch network, improving deposit quality, and expanding lending to higher-quality corporate borrowers. Moody's expects loan growth to accelerate to above 20% annually over the next 2-3 years, supported by the bank's focus on secured retail products and lower funding costs. Geojit Investments upgraded the rating on the stock to 'BUY', based on 1.5x FY28E book value per share, with a revised target price of ₹470, citing the strategic partnership's opportunities in liability mobilisation and non-resident deposit flows, particularly from the Middle East.
