Esaf Small Finance Bank

ESAF Small Finance Bank Q1 results: Net profit falls 52% to Rs 63 cr

ESAF Small Finance Bank on Friday reported 52 per cent decline in June quarter net profit at Rs 63 crore due to increase in bad loans. The Kerala-based lender had earned a net profit of Rs 130 crore in the year-ago period. However, total income increased to Rs 1,138 crore from Rs 992 crore a year ago, ESAF Small Finance Bank said in a regulatory filing. Interest income grew to Rs 1,022 crore during the period under review, from Rs 899 crore a year ago. The bank's asset quality worsened with Gross Non-Performing Assets (NPAs) surging to 6.61 per cent of gross advances as of June 30, 2024, from 1.65 per cent by the end of first quarter of the previous fiscal. Net NPAs also rose to 3.22 per cent of the advances, from 0.81 per cent at the end of first quarter last year. As a result, provisions and contingencies increased to Rs 169 crore from Rs 129 crore earmarked during the same quarter a year ago. However, the capital adequacy ratio of the bank improved to 23.46 per cent, as compa

ESAF SFB evaluating conversion to universal bank: MD & CEO Paul Thomas

In April, the Reserve Bank of India (RBI) came out with guidelines for the voluntary conversion of SFBs to universal banks.

ESAF SFB Q4 results: Net profit slips 57% to Rs 43 cr, NII up 18%

ESAF Small Finance Bank on Thursday reported 57 per cent decline in net profit at Rs 43.4 crore for the fourth quarter ended March 2024 on account higher provisions. The Kerala-based bank had posted a net profit of Rs 101.4 crore for the year-ago period. Total income increased to Rs 1,152 crore in March quarter from Rs 868 crore a year ago, the bank said in a regulatory filing. Interest income grew to Rs 1,002 crore during the period under review from Rs 774 crore in the corresponding quarter a year ago. Net Interest Income (NII) grew 18.4 per cent to Rs 591 crore compared to Rs 499 crore in the same quarter a year ago. The bank's Gross Non-Performing Assets (NPAs) deteriorated to 4.76 per cent of gross advances as of March 31, 2024, from 2.49 per cent by the end of March 2023. Net NPAs also increased to 2.26 per cent of the advances from 1.13 per cent at the end of 2023. As a result, provision for bad loans and contingencies rose nearly three-fold to Rs 226 crore as against Rs

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 Small Finance Bank makes strong debut, lists at 20% premium

At 10:01 AM, ESAF SFB was quoting at Rs 73.65, 23 per cent higher over its issue price of Rs 60

ESAF Small Finance Bank IPO subscribed 73.15 times on last day of offer

The Initial Public Offering (IPO) of ESAF Small Finance Bank was subscribed 73.15 times on the last day of subscription on Tuesday. The Rs 463-crore initial share sale received bids for 4,22,28,99,750 shares against 5,77,28,408 shares on offer, as per NSE data. The portion for Qualified Institutional Buyers (QIBs) received 173.52 times subscription while the quota for non-institutional investors got subscribed 84.37 times. The retail individual investors part received 16.97 times subscription. The public offer had a fresh issue aggregating up to Rs 390.7 crore and offer for sale of up to Rs 72.3 crore. The initial share sale had a price range of Rs 57-60 a share. Those selling shares in the OFS were promoter ESAF Financial Holdings Pvt Ltd, and other shareholders -- PNB MetLife India Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd. ESAF Small Finance Bank said it has collected Rs 135 crore from anchor investors. Proceeds of the fresh issue will be utilised to

ESAF SFB IPO subscribed 1.74 times; Upstox settles matter with Sebi

Sebi had issued a showcause notice to the stockbroker in January 2022 for alleged violations of the cyber security and cyber resilience framework

ESAF Small Finance Bank IPO subscribed 1.74 times on first day of offer

The initial public offer of ESAF Small Finance Bank got subscribed by 1.74 times on the first day of subscription on Friday. The Rs 463-crore initial share sale received bids for 10,02,26,500 shares against 5,77,28,408 shares on offer, as per NSE data. The category for non institutional investors got subscribed 2.44 times while the quota for Retail Individual Investors (RIIs) received 1.97 times subscription. The portion for Qualified Institutional Buyers (QIBs) was subscribed 90 per cent. The Initial Public Offering (IPO) has a fresh issue aggregating up to Rs 390.7 crore and offer for sale (OFS) of up to Rs 72.3 crore. The IPO will conclude on November 7. Those selling shares in the OFS are promoter ESAF Financial Holdings Private Ltd, and other shareholders -- PNB MetLife India Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd. Proceeds of the fresh issue will be utilised to augment the bank's Tier-1 capital base. Price range for the offer is at Rs 57-60 a ..

ESAF SFB to launch IPO on Nov 3 with price band at Rs 57-60/share

ESAF Small Finance Bank Ltd on Tuesday said it has fixed the price band at Rs 57-60 per share for its Rs 463-crore initial share sale that will hit the Indian stock exchanges on November 3. The Initial Public Offering (IPO) of the company will conclude on November 7, while the anchor portion will open on November 2. The firm has lowered its size of fresh issue of equity shares worth up to Rs 390.70 crore from the earlier target of Rs 486.74 crore. It has also reduced its offer for sale component from Rs 142.3 crore to Rs 72.30 crore, as per the red herring prospectus (RHP). Those selling shares in the OFS are promoter ESAF Financial Holdings Pvt Ltd and other shareholders PNB MetLife India Insurance Company Ltd, and Bajaj Allianz Life Insurance Company Ltd. Further, investors can bid for a minimum of 250 equity shares and in multiples of 250 equity shares thereafter. At present, ESAF Financial Holdings owns a 62.46 per cent stake in the small finance bank, while PNB MetLife and Ba

ESAF Small Finance Bank profit increases 23% to Rs 130 crore in Q1

ESAF Small Finance Bank on Friday posted a 23 per cent increase in net profit to Rs 130 crore for the June quarter helped by a rise in interest income and a decline in bad loans. The operating profit -- net profit plus provisions and contingencies -- grew 33 per cent to Rs 301 crore in the first quarter of the current fiscal from Rs 225 crore in the year-ago period, the Kerala-based lender said in a statement. The bank's net interest income -- interest income minus interest expenditure -- increased by 30 per cent to Rs 585 crore in the quarter from Rs 449 crore a year ago. The bank's gross bad loans, or non-performing assets (NPAs), declined to 1.65 per cent of gross advances at the end of June as against 6.16 per cent in the year-ago period. Similarly, net NPAs, too, slipped to 0.81 per cent from 3.78 per cent in the same quarter a year ago. The bank's capital adequacy ratio stood at 20.56 per cent at the end of the June quarter. "We remain committed to sustainable growth and ..

ESAF Small Finance Bank reduces the size of its IPO to Rs 629 crore

The IPO now includes an issue of fresh equity shares amounting to Rs. 486.74 crore and an offer for sale (OFS) of Rs. 142.3 crore

ESAF Small Finance Bank refiles IPO paper, lowers issue size to Rs 629 cr

ESAF Small Finance Bank has refiled preliminary papers with capital markets regulator Sebi to raise Rs 629 crore through an initial public offering (IPO). The lender has cut down the issue size, which now comprises fresh issue equity shares aggregating to Rs 486.74 crore and an offer for sale (OFS) of Rs 142.3 crore, according to the draft red herring prospectus (DRHP) available with Sebi on Monday. Those selling shares in the OFS are promoter -- ESAF Financial Holdings Private Ltd and other shareholders -- PNB MetLife India Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd. At present, ESAF Financial Holdings owns a 62.46 per cent stake in the small finance bank, while PNB MetLife and Bajaj Allianz Life owns 4.75 per cent and 3.89 per cent stake in the lender, respectively. Proceed of the fresh issue will be utilised to augment the bank's Tier 1 capital base. The fresh filling came after ESAF Small Finance Bank's managing director and chief executive K Paul Thomas i

ESAF Small Finance Bank FY23 net profit jumps over four-fold to Rs 302 cr

ESAF Small Finance Bank posted an over four-fold jump in net profit to Rs 302.33 crore for the year ended March 31, 2023. The bank had earned a profit of Rs 54.73 crore a year ago. Total business (including advances under collection management) increased by 23.22 per cent to Rs 30,996.89 crore, compared to Rs 25,155.76 crore in the preceding year, ESAF Small Finance Bank said in a statement on Wednesday. Deposits increased 14.44 per cent from Rs 12,815.07 crore to Rs 14,665.63 crore for the year ended March 31, 2023. Gross Advances increased 16.38 per cent from Rs 12,130.64 crore to Rs 14,118.13 crore as of March 31, 2023. The operating profit for the fiscal year increased by 81.70 per cent to Rs 893.71 crore from Rs 491.85 crore. The Net Interest Income improved 60.08 per cent to Rs 1,836.34 crore. Total CASA rose 7.18 per cent to Rs 3,137.45 crore from Rs 2,927.40 crore. The net profit for the quarter was Rs 101.38 crore as against Rs 37.41 crore during the fourth quarter of t

ESAF SFB to refile IPO prospectus with Sebi; eyes listing in H2 of FY24

Pegs capital need at Rs 1,000 cr for three years

By March, we'll be closer to pre-Covid levels: ESAF Small Finance Bank MD

Thomas says the bank expects to bring the microfinance portfolio down to 60 per cent of its book

ESAF Small Finance Bank plans to set up Asset Hubs across India: Official

ESAF Small Finance Bank has planned to strengthen presence of its Asset Hubs across the country aimed at serving the small and medium enterprises and agriculture segments, a top official said on Tuesday. Asset Hub offered by ESAF Small Finance Bank is a specialised loan processing sanctioning unit and would act as one stop for all the loan needs of customers. "Asset Hub will enable the bank to de-centralise the decision-making process for the loan sanctioning, disbursement and maintenance which will enhance customer service across these locations," the bank's managing director and CEO K Paul Thomas said. "The unit will act as a one-stop for all the loan needs especially for the SMEs and agri segments," he said. ESAF Small Finance Bank plans to open Asset Hubs in Chennai, Bengaluru, Nagpur, Bhopal, Kolkata and New Delhi. The Bank's executive vice president Hemant Kumar Tamta inaugurated an Asset Hub in Coimbatore on Tuesday.

ESAF SFB refiling draft papers for IPO, will finish process by Dec

Issue size to smaller than earlier plan of Rs 998 crore, says company's CEO

ESAF Small Finance Bank Q1 profit jumps to Rs 106 cr amid fall in bad loans

ESAF Small Finance Bank on Friday said it posted a profit of Rs 106 crore for the first quarter ended June helped by a rise in interest income and a decline in bad loans

ESAF join hands with NABARD for local economic development in Kerala

The bank has launched a local Sustainable Economic Development Training Programme