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Profit before tax (PBT) fell 1.77% to Rs 146.31 crore in Q3 December 2021 over Q3 December 2020. Net Interest Income for Q3FY22 stood at Rs 541 crore as against Rs 484 crore in Q3FY21. Net Interest Margin (NIM) during the quarter stood at 9.09% as against 8.14% in Q2FY22 and 8.48% in Q3FY21.
Pre Provisioning Operating Profit (PPoP) for Q3FY22 at Rs 225 crore as against Rs 283 crore in Q3FY21.
Gross non-performing assets (GNPA) stood at 4.39% in Q3FY22 as against 4.64% in Q2FY22 and 4.16% in Q3FY21. Net non-performing assets (NNPA) stood at 2.38% in Q3FY22 compared with 2.37% in Q2FY22 and 1.71% in Q3FY21. Provision coverage ratio stood at 46.81%.
The banks advances as of Q3FY22 were at Rs 19,687 crore, a growth of 13% YoY. 81% of advances are secured loans. Quarterly disbursement of Rs 2,861 crore were reported in Q3FY22.
Total deposits excluding CD were at Rs 17,884 crore, up 13% YoY. The bank's cost of funds reduced to 6.47% from 6.81% in Q2FY22 and 7.27% in Q3Y21. Savings account deposits were at Rs 8,554 crore, growth of 143% YoY and 11% QoQ. During the quarter, CASA stood at Rs 9,085 crore. CASA is 50.80% of total deposits.
Cost to Income ratio stood at 66.71% in Q3FY22 as against 68.72% in Q2FY22 and 55.63% in Q3FY21.
The bank currently maintains 'surplus' liquidity in the form of High Quality Liquid Assets (HQLA). Liquidity Coverage Ratio (LCR) as on 31 December 2021 at 125%.
P N Vasudevan, managing director and CEO of Equitas Small Finance Bank said: "The business environment is slowly but surely coming back to normal. The Wave 3 of covid is a matter of concern, but at this point in time, we see that normal life has not been impacted much due to this. Our flagship product, Small Business Loans remains resilient and affordable housing loans and new commercial vehicle loans are primed for growth in the coming quarters. Deposits continue to perform well and during the quarter the Bank has been able to significantly improve its retail focus and moderate the excess liquidity. An over 50% CASA ratio is something we would be focussed to retain going forward."
Equitas Small Finance Bank is one of the largest small finance banks in India. It offers a bouquet of products and services tailored to meet the needs of individuals, as well as affluent and mass affluent, Small & Medium Enterprises (SMEs) and corporates.
Shares of Equitas Small Finance Bank rose 1.38% to Rs 55.10 on Friday, 28 January 2022.
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