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Yes Securities Report
Equitas Small Finance Bank Ltd. delivered nearly an in-line profit after tax where in lower-than-estimated credit cost (asset quality internals much better than preceding Q2s) was offset by higher employee cost (~Rs 0.3 billion employee-related provionsing reversals in preceding Q2s and 6% QoQ increase in headcount).
Equitas Small Finance Bank's YoY growth in net interest income and pre-provision operating profit was ahead of the 20% loan growth and there was marginal 5 basis points QoQ decline in net interest margin.
Stronger growth in affordable housing (17% QoQ) and new vehicle financing (9% QoQ), and lower growth in micro finance institution book (3% QoQ) were factors behind stable portfolio yield.
Increase in bulk term-deposit contribution and decline in current account and savings account share were reasons behind slight uptick in CoD. Brisk traction in core fees continued.
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