 "Small finance banks see double-digit growth in advances & deposits in Q2")
Equitas Small Finance Bank, Utkarsh Small Finance Bank, and Ujjivan Small Finance Bank recorded double-digit year-on-year (YoY) growth in advances and deposits during the second quarter of FY24, as per the exchange filings on Thursday.
Equitas Small Finance Bank witnessed a healthy 37 per cent increase in advances to Rs 31,231 crore, whereas deposits rose 42 per cent to Rs 30,839 crore from the second quarter of FY23.
Ujjivan Small Finance Bank clocked a 27 per cent growth in advances to Rs 26,600 crore from Rs 20,938 crore in the year-ago period. Affordable Housing constitutes a sizeable portion of the loan book, crossing Rs 4,000 crore. Meanwhile, the deposits of the bank improved by 43 per cent to Rs 29,134 crore from Q2FY23.
Utkarsh Small Finance Bank saw a 26.40 per cent rise in advances to Rs 14,894 crore from the corresponding year-ago quarter. The deposits during the same time period grew by 19 per cent to Rs 13,965 crore.
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