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Geojit Research Report
Equitas Small Finance Bank Ltd. is the second-largest SFB in India in terms of total advances as on FY22. Locating across 17 states and union territories, the bank serves through 869 banking outlets.
Loan book has witnessed a compound annual growth rate of 18% during FY19-22 through 25% growth in non-micro finance segments. With recovering economic activities, we anticipate a 20% growth over FY22-FY24E.
Equitas SFB has posted robust retail deposit growth with the current account and savings account mix improving significantly from 20.5% in FY20 to 52.0% in FY22. We expect CASA ratio to be at 55% by FY24, aiding a lower cost of fund.
Gross/net-non performing asset stands at 4.0%/2.1% as on Q1 FY23.
Standard restructured book stands at Rs 410 crore which is 1.9% of the total book. Asset quality is expected to improve gradually over coming quarters supported by improved collections.
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