Last updated: October 5, 2024 | 4:50 PM IST
Equitas Small Finance Bank (SFB) has seen its total deposits including certificates of deposit surge by 29.25% as on September 30, 2024, against Rs 30,839 crore recorded on September 30, 2023. 39,859 billion rupees.
On quarter-on-quarter (QoQ) basis, total deposits increased by 6.22% from Rs 37,524 crore as on June 30, 2024.
Total advances as of September 30, 2024 stood at Rs 36,050 crore, up 15.44% YoY and 3.38% QoQ.
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The total advance includes Interbank Participation Certificate (IBPC)/Securitization/Transfer Portfolio, amounting to Rs 1,396 crore as on September 30, 2024 and Rs 2,321 crore as on June 2024. It decreased from Rs.
As of September 30, 2024, CASA (current account) deposits stood at Rs 12,184 million, registering a growth of 17.37% year-on-year and 3.92% quarter-on-quarter. The bank’s CASA ratio was 31% as of September 30, 2024, down from 34% as of September 30, 2023.
Cost of funds increased to 7.50% in the second quarter of 2025 from 7.21% in the second quarter of 2024 and 7.46% in the first quarter of 2025.
The bank has witnessed significant growth in small business lending and affordable housing finance, and is cautious about microfinance. The microfinance industry remains under stress with arrears remaining at high levels. The stress is expected to continue for some time. The bank will continue to work with other industry players to improve its lending practices and restore confidence to this product, the bank said in an exchange filing.
Additionally, the bank said microfinance contributed about 16% of the bank’s total advances as of September 2024 and is expected to decline in the long term. The Bank has a particular focus on products such as microloans for real estate for small and medium-sized enterprises that cater to the top end of the microfinance customer segment.
Over time, as this momentum accelerates, it is expected to offset the expected decline in microfinance growth. Deposits continued to grow strongly and the CASA ratio was able to maintain itself after several quarters of decline.
Equitas Small Finance Bank is one of the largest small finance banks in India.
The bank reported an 86.5 per cent decline in net profit to Rs 2,576 crore in Q1 FY25 as against Rs 191.2 crore in Q1 FY24. The bank’s total revenue for the first quarter of FY25 increased by 19.9% year-on-year to Rs 1,709.66 crore.
The counter rose 0.24% to close at Rs 75.26 on Friday, October 4, 2024.
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First published: October 5, 2024 | 4:28 PM IST
