RBL Bank has raised Rs 330 crore from the UK-based development finance institution, CDC Group Plc (CDC), through Basel III compliant Tier II capital. The Tier II debt will strengthen the capital base of the bank, which in turn will support its businesses such as SME lending, agribusiness financing and financial inclusion. The infusion will also help the bank expand to new regions within India.
RBL Bank is an existing CDC investee company - having received Rs. 174 Crores equity investment in March 2014 and subsequent pre-IPO investment of Rs. 44.5 Crores in October 2015. CDC has consistently supported the bank’s growth as it developed from a regional bank to a pan-India bank with 201 branches and 373 ATMs across 16 Indian states and Union Territories serving over 2 million customers.
