RBL Bank - Uncertainty Looms: ICICI Securities
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ICICI Securities Report
Uncertainty looms at RBL Bank Ltd. with the Reserve Bank of India’s appointment of Additional Director on bank’s Board and the Board accepting Mr. Vishwavir Ahuja’s (Managing Director and Chief Executive Officer) leave for six months.
More so, after management highlighting that these developments are not in any manner a reflection on business fundamentals or strategy of the bank. It reiterates its guidance of 1% exit return on asset by Q4 FY22.
RBI’s similar action at other banks in the past has hinted at compliance or asset quality or governance or business risk issues. Repercussion of this move on various stakeholders (including depositors, employees, etc) and consequent derailment of confidence and disruption would be key monitorable going forward.
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