Equitas Small Finance Bank posts Q2FY20

Equitas Small Finance Bank Q2 report

The Bank’s secured advances portfolio improved over the previous quarter to 74% from 72%.

Equitas Small Finance Bank posted an advances growth of 33% YoY to 13,269 Cr. The bank continued to register strong growth in small business loans and vehicle finance. Disbursements witnessed a 11% growth over the previous year to ~2400 Cr for the quarter ended 30th September 2019. The Bank’s secured advances portfolio improved over the previous quarter to 74% from 72%.

Asset quality remained stable, GNPA at 2.88% GNPA stood at 2.88%, as against 2.75% of previous quarter and 3.36% of same quarter of previous year.

PBT for Q2FY20 stood Rs. 82.7 Cr PAT of Rs. 47.6 Cr for Q2FY20, impacted by DTA write down of Rs. 24.5 Cr due to changes in corporate tax rate.

Retail Momentum continues Equitas Small Finance Bank Deposits increased to more than Rs. 9,800 Cr. The bank continued its focus on retail deposits and Retail Term Deposits as on Q2FY20 stood at Rs. 2,607 Cr.

The Banks CASA ratio stood at 24% with CASA balances at Rs.2, 249 Cr for the quarter ended 30th September 2019.