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Equitas bank gross advances goes upto 20 per cent to Rs 22,802 crore at September quarter

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Equitas Small Finance Bank
Equitas Small Finance Bank | Image: Representative/Agencies

Equitas Small Finance Bank on Friday said its gross advances grew by 20 per cent to Rs 22,802 crore at end of September 2022 quarter.

The Bank’s gross advances in the year-ago period of September 2021 stood at Rs 18,978 crore.

During the second quarter ended September 2022-23, the Bank’s disbursements were up by 22 per cent at Rs 3,845 crore, as against Rs 3,145 crore in year-ago period. Total deposits rose by 20 per cent to Rs 21,726 crore, from Rs 18,094 crore at end Q2FY22, Equitas Small Finance Bank said in a release.

Of this, retail term deposits were at Rs 7,665 crore, up by 13 per cent from Rs 6,767 crore in the year-ago quarter. The current account savings account (CASA) stood at Rs 10,456 crore at end of Q2FY23, as against Rs 8,200 crore in the year-ago period.

CASA ratio was at 48.13 per cent.

Among others, the Bank’s cost of funds came down to 6.25 per cent, as against 6.81 per cent. The Bank said the figures related to September 2022 are provisional unaudited numbers, subject to approval by the audit committee and board of directors. The Equitas Small Finance Bank stock was trading at Rs 51 apiece on BSE, up by 1.90 per cent.

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