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Geojit Research Report
Equitas Small Finance Bank Ltd. is the second-largest small finance bank in India in terms of total advances as of FY22.
Equitas Small Finance Bank, located across 17 states and union territories, serves through 887 banking outlets.
Total advances grew by 20% YoY as disbursements for the quarter grew 22% YoY, led by housing and vehicle finance.
Total deposits of the bank grew by 205% YoY to Rs 21,726 crore. Current account and savings account ratio of the bank stands at 48%.
With 26% YoY growth in net interest income and lower provisioning, the net profit of the bank grew by 183% YoY and 20% sequentially.
Asset quality improved during the quarter, with gross/net non performing asset declining to 3.99%/1.97% compared to 4.18%/2.15% during previous quarter.
Management expects advances to grow at 25% and credit cost to be brought down to 1.5% in FY23.
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