Shares of RBL Bank plunged over 24 percent in intraday trade to hit their fresh all-time low of Rs 156.45 on BSE and looked on course to extend their losing run into the third consecutive session on March 16.
The stock cracked due to fears that it could be the next lender to face a crisis after Yes Bank. However, the bank, in a regulatory filing on March 11 said, it is financially strong, well-capitalised, profitable and a growing entity with strong governance set up.
"We wish to re-emphasise that RBL Bank is a fundamentally strong institution. Rumors around financial health and stability of the institution especially in social media seem to be misplaced, motivated and not based on facts," the bank said in a regulatory filing.
"The bank remains adequately capitalised with a capital adequacy ratio of 16.08 percent with Tier-1 at 15.02 percent, significantly higher than the prescribed regulatory requirement at 11.5 percent and 9.5 percent, respectively," the bank said.
The bank added that all its business segments are doing well and it is expanding presence across newer geographies by adding branches and are also hiring more people as previously planned.
The bank claimed it continues to attract additional deposits from retail, corporates and institutional segments.
Shares of RBL Bank traded 21.50 percent down at 14:50 hours on BSE.
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