Page 3 - Equitas Sfb

Equitas SFB Q1: Gross advances at Rs 21,699 cr as on June 30, up 22%

Equitas Small Finance Bank (Equitas SFB) on Wednesday said its gross advances grew by 22 per cent from a year ago to Rs 21,699 crore as of June 30.

Equitas Small Finance Bank gets RBI nod to reappoint Vasudevan as MD & CEO

Equitas Small Finance Bank (ESFB) on Wednesday said that the Reserve Bank of India has okayed its proposal to reappoint MD and CEO Vasudevan P N for one year. "We wish to inform that pursuant to the bank's application vide its letter dated May 23, 2022, RBI vide its letter dated June 15, 2022 has approved the proposal to reappoint Vasudevan P N as the Managing Director & Chief Executive Officer (MD &CEO) of the bank, for a period of one year with effect from July 23, 2022," it said in a regulatory filing. Earlier in May this year, ESFB founder and CEO Vasudevan P N had asked the lender to look for his successor as he wanted to step down to pursue "a distinct set of goals". He is also the Managing Director of Equitas, which began as a micro finance institution in 2007 and was later converted into bank in 2016. In a letter to ESFB last month, Vasudevan expressed his desire to quit but did not gave a timeline. Vasudevan said he along with his wife has created a public charitable .

Focus on sustainable business model, governance: RBI tells SFBs in meeting

SFBs were advised to continue to evolve in tune with the differentiated banking licence given to them with proportionate growth in their capital base.

Equitas SFB dips 11% on resignation of MD & CEO P N Vasudevan

P N Vasudevan resigned as the managing director and chief executive officer of the Equitas Small Finance Bank for a career in health and education.

RBI gives no-objection for merger of Equitas SFB, Equitas Holdings

The conditions laid down by the RBI on no-objection for amalgamation include divestment of shareholding by EHL in its subsidiary -- Equitas Technologies -- prior to the scheme taking effect

Equitas Holdings, Equitas SFB gain on board approval for merger plan

As per the scheme of amalgamation, each equity shareholder of Equitas Holdings will be allotted 231 equity shares for every 100 shares of Equitas SFB.

Equitas SFB, Equitas Holdings okay scheme of amalgamation

The boards of Equitas Holdings and its subsidiary Equitas Small Finance Bank (ESFBL) have approved their merger plan, according to regulatory filings

Equitas Small Finance Bank sets QIP issue price at Rs 53.59 per share

Equitas Small Finance Bank (SFB) on Friday said it has fixed the price for its proposed QIP issue at Rs 53.59 per share. The bank in October 2021 had said that it will raise up to Rs 1,000 crore through a qualified institutional placement (QIP) in order to fulfil the regulatory norms regarding minimum public shareholding. The decision was taken by the merger committee of the board of directors at its meeting held on February 18, 2022, Equitas SFB said in a regulatory filing. The committee approved the closure of the issue period for the issue today, ie, February 18, 2022. The committee determined and approved the issue price of Rs 53.59 per equity share, which takes into account a discount of 4.98 per cent to the floor price of Rs 56.40 per equity share, it said. Equitas Holdings Ltd had 81.36 per cent stake in Equitas SFB as of December 31, 2021. As per RBI guidelines for SFBs, if a promoter holds more than 40 per cent stake in the subsidiary, it should be brought down to 40 per

Equitas SFB reports flat growth in net profit at Rs 108 cr in Dec quarter

The South-based SFB had posted a net profit of Rs 111 crore in the year-ago quarter

Equitas Holdings to divest stake in ETPL ahead of merger with Equitas SFB

Equitas Holdings Ltd will divest its entire stake in subsidiary Equitas Technologies Pvt Ltd (ETPL) as part of the requirement for the merger with Equitas Small Finance Bank (ESFB)

Equitas Small Finance Bank empanelled as Maharashtra's banking partner

Equitas Small Finance Bank on Monday said it has been empanelled as a banking partner of the Government of Maharashtra to offer its services to the state government employees.

Equitas SFB, Cholamandalam MS for women-centric health insurance policy

Equitas Small Finance Bank (SFB) on Monday said it has tied up with Cholamandalam MS General Insurance to launch a women-centric health insurance policy Chola Sarva Shakti.

Equitas Small Finance Bank partners with HDFC Bank to launch credit cards

The credit card can be availed in two categories

Equitas Small Finance Bank Q2 profit plunges 60% to Rs 41 crore

Net NPAs were at 2.37 per cent, up from 1.09 per cent in year ago period

Equitas Small Finance Bank to raise up to Rs 1,000 crore via QIP

Stock of the firm closed with a gain of about one per cent at Rs 67.3 per share on the BSE on Monday. Its capital adequacy ratio stood at 24.07 per cent at the end of June

Why RBI is concerned about Equitas SFB's new scheme for Google Pay users

The RBI is weighing carefully if this could eventually lead to a backdoor entry of Big Tech in the Indian banking system

Equitas SFB expects to recast loans up to Rs 700 crore by December

Total advances restructured under Covid 1.0 and 2.0 stand at just over Rs 1,300 crore, which comprises around 7.5 per cent of gross advances

Tie-ups like Equitas-Google Pay can significantly disrupt payments sector

With Covid-19 putting the brakes on bank lending, fintech players have begun to give banks serious competition

Google-Equitas Small Finance Bank deposits deal under RBI's watch

Panel on digital lending may focus on marketplace for banking products

Equitas SFB Q1 profit dips 79% to Rs 12 cr over restructured accounts

Equitas Small Finance Bank (ESFB) on Friday reported 79 per cent fall in net profit at Rs 12 crore for June quarter 2021-22 on account of provisions for restructured accounts.