|
Gross advances of the bank increased 15% as on 31 March 2022 to Rs 20,648 crore as compared to Rs 17,925 crore as of 31 March 2021 and on a sequential basis, it increased 5% to Rs 19,687 crore as of 31 December 2021.
Bulk term deposits tanked 59% to Rs 2,002 crore as on 31 March 2022 as compared to Rs 4,836 crore as of 31 March 2021. However, sequentially there was an growth of 11% to Rs 1,799 crore. Retail term deposits increased 21% Year on Year (YoY) and 1% Quarter on Quarter (QoQ) to Rs 7,093 crore as of 31 March 2022.
The bank's CASA deposits aggregated to Rs 9,855 crore, up 76% YoY from 5,614 crore posted in the same quarter last year. CASA ratio stood at 52.01% as of 31 March 2022 and 34.25% as of 31 March 2021.
Commenting on the performance, Mr. P N Vasudevan, Managing Director and CEO of Equitas Small Finance Bank said "Last quarter saw an all-around improvement on performance. With Covid related disruptions mostly behind us, we are seeing customers' businesses generating healthy cash flows similar to their pre-covid levels. This is helping not only better collection efficiencies but also greater demand for fresh credit. With a good growth in our deposit franchise, we should be well placed to support strong credit growth for the coming year".
Equitas Small Finance Bank is engaged in retail banking business with focus on micro-finance, commercial vehicle finance, home finance, loan against-property finance, corporate finance.The bank reported 2.3% decline in net profit to Rs 108.11 crore on a 2.3% increase in total income to Rs1035.01
Shares of Equitas Small Finance Bank were trading 0.91% at Rs 55.40 on BSE.
|