Equitas Small Finance Bank on Wednesday reported a profit after tax (PAT) of 120 crore for the fourth quarter of the previous financial year, compared with113 crore in the same quarter last fiscal, registering an increase of 6%. The total income of the bank went up by 4.7% to 1,044 crore from997 crore. Disbursement stood at 3,279 crore, exceeding the previous highest quarter. P N Vasudevan, MD & CEO of Equitas Small Finance Bank, said: “The bank achieved its highest-ever disbursement in Q4FY22. The demand for credit has come back to normal levels. With improving asset quality, the bank is well positioned to get back to its pre-Covid levels growth rate of around 30% per annum. The bank’s capital position is also strong with capital adequacy of over 25%, enabling the bank to pursue growth over the coming years.” The net interest income for Q4FY22 stood at552 crore, against 449 crore, while net interest margin (NIM) was at 9.12%. The gross NPA was at 4.06% in Q4FY22, compared to 4.39% in Q3FY22 and 3.59% in Q4FY21. The net NPA stood at 2.37% in Q4FY22, compared with 2.38% in Q3FY22 and 1.52% in Q4FY21. The provision coverage ratio was at 42.73%. The bank has made additional standard assets provision of26.08 crore in Q4FY22, it said in a release.
The bank said the fastest growing segment for the quarter was small business loans. While advances as of Q4FY22 was at 20,597 crore, logging a growth of 15% YoY, CASA deposits grew 76% YoY to9,855 crore, with CASA ratio staying at 52.01% as of March 2022.
The retail term deposits grew 21% YoY to Rs 7,093 crore, and retail deposits formed 78% of term deposits. As of March 31, 2022, the total CRAR was at 25.16%, the tier I being at 24.53% and tier II at 0.63%.