Esaf Microfinance

ESAF SFB to focus on solar rooftop and electric vehicle financing

Climate change remains a significant risk factor for the bank due to its impact on agriculture-dependent customers

ESAF Small Finance Bank Q3 results: Profit jumps threefold to Rs 112 crore

ESAF Small Finance Bank on Friday reported over three-fold increase in net profit at Rs 112 crore for the third quarter ended December 2023 on account of improvement in core income. The Kerala-based bank had posted a net profit of Rs 37 crore for the year-ago period. Total income increased to Rs 1,094 crore in December quarter from Rs 782 crore a year ago, the bank said in a regulatory filing. Interest income also improved to Rs 974 crore from Rs 701 crore in the third quarter of the previous fiscal. Net interest income rose to Rs 597 crore from Rs 451 crore in the corresponding period of the preceding year. On asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 4.16 per cent from 7.24 per cent at the end of December quarter FY23. Similarly, net NPAs also declined to 2.19 per cent from 3.73 per cent in the previous year. Provision and contingencies nearly came down to Rs 138 crore from Rs 188 crore in same period of FY23. T

ESAF Bank, V-Guard partners to finance solar rooftop power systems

ESAF Small Finance Bank and electric equipment manufacturer V-Guard Industries signed an agreement to provide financing options to customers looking to install solar rooftop power systems. Under the agreement, ESAF Bank will provide various financing options, including loans and attractive installment payment plans, a statement said. With the strategic alliance with ESAF Bank, it said, consumers can opt to finance up to 80 per cent of the total cost of the rooftop solar power system, including the cost of installation for residential or commercial applications. This collaboration will not only reduce the burden on customers to make an upfront payment but also enable them to generate their own electricity, thereby reducing their dependence on the grid, it said. This partnership will enable customers to switch to clean energy with ease and affordability, it added.

ESAF Small Finance Bank files DRHP for Rs 976 crore IPO with Sebi

According to the DRHP, the IPO comprises a fresh issue worth Rs 800 crore and an Offer for Sale (OFS) amounting to Rs 176.2 crore

ESAF to raise Rs 300 cr for small finance bank

The new SFB is expected to start operating by mid-February 2017

The small finance bank will be profitable within first year of operations: K Paul Thomas

Interview with CMD, ESAF Microfinance