Gross advances grew 32% to Rs 32,777 crore in 31 December 2023 as compared to Rs 24,915 crore recorded in 31 December 2022. It includes IBPC/Securitized/ Assigned portfolio of Rs 3,195 crore.

Sequentially, the gross advances increased 5% from Rs 31,229 crore as of 30 September 2023.

CASA stood at Rs 10,593 crore as on 31 December 2023 (down 2% YoY and up 2% QoQ). CASA ratio reduced to 33% as of 31 December 2023 from 46% as of 31 December 2022 and 34% as of 30 September 2023.

Cost of funds increased at 7.36% in 31 December 2023 as compared to 6.41% as of 31 December 2022 and 7.21% as of 30 September 2023.

Equitas Small Finance Bank offers products and services to meet the needs of individuals with limited access to formal financing channels, as well as affluent and mass affluent, small & medium enterprises (SMEs) and corporates.

The bank's net profit jumped 70.2% to Rs 198.14 crore in Q2 FY24 as against Rs 116.42 crore recorded in Q2 FY23. Total income stood at Rs 1,540.37 crore in Q2 FY24, registering a growth of 34.2% from Rs 1,147.39 crore reported in the corresponding quarter previous year.

The scrip hit an all time-high at Rs 114.45 in intraday today.