scorecardresearch

Equitas SFB PAT rises 6%

“The bank achieved its highest-ever disbursement in Q4FY22. The demand for credit has come back to normal levels. With improving asset quality, the bank is well positioned to get back to its pre-Covid levels growth rate of around 30% per annum. The bank’s capital position is also strong with capital adequacy of over 25%, enabling the bank to pursue growth over the coming years.”

Equitas SFB
The bank said the fastest growing segment for the quarter was small business loans.

Equitas Small Finance Bank on Wednesday reported a profit after tax (PAT) of 120 crore for the fourth quarter of the previous financial year, compared with113 crore in the same quarter last fiscal, registering an increase of 6%. The total income of the bank went up by 4.7% to 1,044 crore from997 crore. Disbursement stood at 3,279 crore, exceeding the previous highest quarter. P N Vasudevan, MD & CEO of Equitas Small Finance Bank, said: “The bank achieved its highest-ever disbursement in Q4FY22. The demand for credit has come back to normal levels. With improving asset quality, the bank is well positioned to get back to its pre-Covid levels growth rate of around 30% per annum. The bank’s capital position is also strong with capital adequacy of over 25%, enabling the bank to pursue growth over the coming years.” The net interest income for Q4FY22 stood at552 crore, against 449 crore, while net interest margin (NIM) was at 9.12%. The gross NPA was at 4.06% in Q4FY22, compared to 4.39% in Q3FY22 and 3.59% in Q4FY21. The net NPA stood at 2.37% in Q4FY22, compared with 2.38% in Q3FY22 and 1.52% in Q4FY21. The provision coverage ratio was at 42.73%. The bank has made additional standard assets provision of26.08 crore in Q4FY22, it said in a release.

The bank said the fastest growing segment for the quarter was small business loans. While advances as of Q4FY22 was at 20,597 crore, logging a growth of 15% YoY, CASA deposits grew 76% YoY to9,855 crore, with CASA ratio staying at 52.01% as of March 2022.

The retail term deposits grew 21% YoY to Rs 7,093 crore, and retail deposits formed 78% of term deposits. As of March 31, 2022, the total CRAR was at 25.16%, the tier I being at 24.53% and tier II at 0.63%.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Most Read In Industry