Equitas SFB Q1 gross advances grow 18% YoY
Equitas Small Finance Bank (Equitas SFB) said that its gross advances jumped 17.8% to Rs 34,872 crore as on 30 June 2024 as against Rs 29,601 crore as on 30 June 2023.
On quarter on quarter (QoQ) basis, gross advances rose 1.6% from Rs 34,337 crore posted on 31 March 2024.
Total deposits surged 35.4% year on year (YoY) and 3.9% QoQ to Rs 34,337 crore as on 30 June 2024.
During the quarter, CASA deposits stood at Rs 11,724 crore, registering a growth of 9.7% YoY and 1.5% QoQ. CASA ratio was at 31% as on 30 June 2024 as compared to 39% as on 30 June 2023 and 32% as on 31 March 2024.
Cost of funds increased to 7.46% in Q1 FY25 from 6.94% in Q1 FY24 and 7.44% in Q4 FY24.
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Equitas Small Finance Bank is one of the largest small finance banks in India.
The bank reported 9% rise in net profit to Rs 208 crore on a 21% increase in total income to Rs 1,685.10 crore in Q4 FY24 as compared with Q4 FY23.
Shares of Equitas Small Finance Bank shed 0.18% to Rs 94.40 on the BSE.
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First Published: Jul 04 2024 | 2:53 PM IST