'Equitas Small Finance Bank has reported
sharp 87dip in net profit at Rs 25.75 crore for the quarter ended June 2024
(Q1FY2025), on account of accelerated provisioning to reduce net NPAs below 1%
and raise provision coverage ratio to 70%. The bank has created additional
provisions in the form of floating provisions amounting to Rs 180 crore in
Q1FY2025
The bank has posted 8% growth in net
interest income (NII), while the core fee income of the bank has jumped 38% in
Q1FY2025. The Net Interest Margin (NIM) of the bank declined to 7.97% in
Q1FY2025 compared to 8.76% in the corresponding quarter of previous year.
On business front, the bank as has
posted 26% growth in business with 18% rise in loan book. The asset quality of
the bank has witnessed pressure due to increase in fresh slippages of loans in
Q1FY2025. Bank has substantially reduced the credit to deposit ratio to 92.9%
at end June 2024 from 106.8% at end June 2023. The CASA ratio of the b...
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