Equitas SFB gross advances up by 20% at ₹22,802 cr at September end indiabusinessport.com

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

The gross advances in the year-ago period of September 2021 stood at 18,978 crore, for the bank.

During the second quarter ended September 2022-23, Equitas SFB disbursements were up by 22 per cent at 3,845 crore, as against 3,145 crore in year-ago period.

The total deposits was up by 20 per cent to 21,726 crore, from 18,094 crore at end Q2FY22, Equitas Small Finance Bank said in a release.

The retail term deposits were at 7,665 crore, up by 13 per cent from 6,767 crore in the year-ago quarter.

The current account savings account (CASA) stood at 10,456 crore at end of Q2FY23, as against 8,200 crore in the year-ago period. The 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.

Equitas SFB 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 51 apiece on BSE, up by 1.90 per cent.

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