Equitas Small Finance Bank said its gross advances surged 27% to Rs 24,923 crore as on 31 December 2022 as against Rs 19,687 crore as on 31 December 2021.
On quarter on quarter (QoQ) basis, gross advances increased by 9% from Rs 22,779 crore posted on 30 September 2022.
Disbursements during the quarter improved to Rs 4,797 crore as on 31 December 2022, rising 68% year on year (YoY) and 25% QoQ. Total deposits grew 31% YoY and 8% QoQ to Rs 23,393 crore as on 31 December 2022.
During the quarter, CASA deposits stood at Rs 10,817 crore, up 19% YoY and 3% QoQ. CASA ratio was at 46.24% as on 31 December 2022 as compared to 50.80% as on 31 December 2021 and 48.13% as on 30 September 2022.
Retail term deposits rose 18% YoY and 8% QoQ to Rs 8,270 crore in quarter ended 31 December 2022. Bulk term deposits were at Rs 4,306 crore as on 31 December 2022, up 139% YoY and 19% QoQ. Cost of funds stood at 6.41% in Q3 FY23 from 6.47% in Q3 FY22 and 6.25% in Q2 FY23.
Equitas Small Finance Bank offers products and services to meet the needs of individuals with limited access to formal financing channels, as well as affluent and mass affluent, small & medium enterprises (SMEs) and corporates.
The bank reported a net profit of Rs 116.42 crore in Q2 FY23, steeply higher than Rs 41.19 crore recorded in Q2 FY22. Total Income jumped 15.24% to Rs 1,147.39 crore in quarter ended 30 September 2022 from Rs 995.69 crore posted in the corresponding quarter previous year.
Shares of Equitas Small Finance Bank shed 0.84% to Rs 59.25 on the BSE.
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