ESAF Small Finance Bank (SFB) advanced 2.71% to Rs 64 after the bank's total deposits jumped 35.47% to Rs 19,868 crore in Q4 FY24 as against Rs 14,666 crore recorded in Q4 FY23.
On sequential basis, the banks total deposits increased 5.34% to Rs 18,860 crore as on 31 December 2023.Gross advances surged 33.72% to Rs 18,878 crore as on 31 March 2024 as compared to Rs 14,118 crore recorded in 31 March 2023.
On quarter on quarter (QoQ) basis, the gross advances increased 10.06% from Rs 17,153 crore as of 31 December 2023.
CASA stood at Rs 4,502 crore as on 31 March 2024 (up 43.47% YoY and up 26.35% QoQ). CASA ratio increased to 22.66% as of 31 March 2024 from 21.40% as of 31 March 2023 and 18.89% as of 31 December 2023.
On asset quality front, the bank's gross non-performing assets (GNPA) stood at 998 crore as on 31 March 2024 as against Rs 352 crore as on 31 March 2023, surged by 183.52% YoY basis.
Also Read
Net Non-Performing Assets (NNPA) stood at Rs 487 crore as on 31 March 2024, steeply higher than Rs 158 crore as on 31 March 2023.
Gross NPA margin grew to 5.29% as on 31 March 2024 against 2.49% as on 31 March 2023. Net NPA margin increased to 2.65% as on 31 March 2024 as compared to 1.13% as on 31 March 2023.
ESAF Small Finance Bank primarily focus on expanding the banking horizon to new unbanked and underbanked area, yet bank stand with for all with presence in urban, semi urban, rural and rural unbanked areas. As on 31 March 2024, The Banks distribution network stood at 753 branches and 614 ATMs.
The bank reported a standalone profit of Rs 112.14 crore in Q3 FY24, steeply higher from Rs 37.41 crore posted in Q3 FY23. Total income jumped 39.9% to Rs 1,094.35 crore in Q3 FY24 as compared with Rs 782.19 crore posted in corresponding quarter last year.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
