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Equitas Small Finance Bank Results: Latest Quarterly Results & Analysis

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Equitas Small Finance Bank Ltd. 08 Aug 2025 14:58 PM
Result PDF

Q1FY26 Quarterly Result Announced for Equitas Small Finance Bank Ltd.

Equitas Small Finance Bank announced Q1FY26 results

  • Profit & Loss:
    • Net Income and Total Opex grew by 8% and 16% YoY in Q1FY26.
    • The Bank has made Additional Standard Asset Provision (One-time Impact) of Rs 185 crore in Microfinance and Rs 145 crore for Additional NPA Provision due to change in Provisioning norms, resulting in a Loss of Rs 224 crore for the quarter.
  • Secured loan advances forms 91% of the total advances of the Bank.
  • Gross Advances growth remained muted at 8% YoY and flat QoQ as Microfinance loan book contracts. Non Microfinance book grew 18% YoY, led by 22% growth in SBL over previous year.
  • Overall deposits registered a growth of 18% YoY & 3% QoQ
  • Business Highlights:
    • Vehicle Finance portfolio has crossed Rs 9500 crore during the quarter.
    • Used Car Advances crossed Rs 2000 crore, registered a growth of 50% YoY.
    • Used CV Advances registered a growth of 26% YoY.
    • CASA ratio stable at 29%; CA balances grew 92% YoY.
    • Retail Term Deposits posted a growth of 20% YoY to Rs 19,354 crore
  • Key Ratios:
    • NIM for the quarter stood at 6.55%.
    • Cost to Income stood at 70.62% in Q1FY26 as compared to 70.28% in Q4FY25 and 65.75% in Q1FY25
  • Capital:
    • Networth of the Bank stands at Rs 5,849 crore.
    • As of June 30, 2025, Total CRAR at 20.48% | Tier I at 17.16% and Tier II at 3.32%.
    • Tier II capital raised of Rs 500 crore in July ’25, improving CAR further by about 1.7%
  • Treasury & Liquidity:
    • The Bank’s Certificate of Deposit (CD) programme has highest rating at A1 from India Ratings, CareEdge Ratings & CRISIL.
    • Liquidity Coverage Ratio (LCR) as on 30.06.2025 is 209.5%.
    • Profit on sale of Investments for the quarter is Rs 116 crore
  • Asset Quality:
    • GNPA improved by 7 bps QoQ to 2.82% in Q1FY26 as compared to 2.89% in Q4FY25.
    • NNPA improved by 3 bps QoQ to 0.95% in Q1FY26 as compared to 0.98% in Q4FY25.

Result PDF

Result PDF

Microfinance Institutions company Equitas Small Finance Bank announced Q4FY25 results

Financial Highlights:

  • Profit & Loss:
    • Net Income and Total Opex grew by 9% and 15% YoY, for full year FY25 respectively.
    • PAT stood at Rs 42 crore for Q4FY25
  • Business Highlights:
    • Vehicle Finance portfolio has crossed Rs 9400 crore during the quarter.
    • Used Car Advances closed at Rs 1873 crore registered a growth of 53% YoY.
    • Used CV Advances registered a growth of 24% YoY.
    • CASA ratio stable at 29%; CA balances grew 36% YoY.
    • Strong Retail Term Deposits growth of 25% YoY to Rs 18,447 crore.
  • Key Ratios:
    • NIM for the quarter stood at 7.13%.
    • Cost to Income stood at 70.28% in Q4FY25 as compared to 68.30% in Q3FY25 and 62.83% in Q4FY24.
    • RoA and RoE for Q4FY25 at 0.32% and 2.79% respectively.
  • Capital:
    • Networth of the Bank stands at Rs 6,073 crore.
    • As of March 31, 2025, Total CRAR at 20.60% | Tier I at 17.84% and Tier II at 2.76%.
  • Treasury & Liquidity:
    • The Bank’s Certificate of Deposit (CD) programme has highest rating at A1 from India Ratings, CareEdge Ratings & CRISIL.
    • Liquidity Coverage Ratio (LCR) as on 31.03.2025 is 200.96%.
    • Profit on sale of Investments for the quarter is Rs 28.23 crore.
  • Asset Quality & Provisions:
    • Gross Slippages improved by 56 bps QoQ to 5.94% in Q4FY25 as compared to 6.50% in Q3FY25.
    • Net slippages remained flat QoQ to 3.16% in Q4FY25 as compared to 3.15% in Q3FY25.
    • GNPA improved by 8 bps QoQ to 2.89% in Q4FY25 as compared to 2.97% in Q3FY25.
    • NNPA increased by 2 bps QoQ to 0.98% in Q4FY25 as compared to 0.96% in Q3FY25.
  • Key Highlights for Q4FY25:
    • Gross Advances growth at 11% YoY and 2% QoQ. Non Microfinance book grew 19% YoY, led by 25% growth in SBL over previous year.
    • Overall deposits registered a growth of 19% YoY & 6% QoQ.

Result PDF

Equitas Small Finance Bank announced Q3FY25 results

  • Yield on Gross Advances improved by 6 bps to 16.55% in Q3FY25 over Q2FY25.
  • Gross Advances growth at 14% YoY and 4% QoQ. Non Microfinance book grew 20% YoY, led by 27% growth in SBL over Q2FY25.
  • Overall deposits registered a growth of 26% YoY & 2% QoQ.
  • Net Income and Total Opex grew by 8% and 18% YoY, for Q3FY25 respectively.
  • PAT stood at Rs 66 crore for Q3FY25.
  • Vehicle Finance portfolio has crossed Rs 9000 crore during the Q3FY25.
  • Used Car Advances closed at ~Rs 1700 Cr ticking a growth of 55% YoY.
  • CASA ratio stable at 29%; CA balances grew 56% YoY.
  • Strong Retail Term Deposits growth of 31% YoY to Rs 17,992 crore.
  • Key Ratios:
    • NIM stood at 7.39%.
    • Cost to Income stood at 68.30% in Q3FY25 as compared to 66.09% in Q2FY25 and 62.88% in Q3FY24.
    • RoA and RoE for Q3FY25 at 0.53% and 4.44% respectively.
  • Capital:
    • Networth of the Bank stands at Rs 6,007 crore.
    • During the quarter, the Bank raised Rs 500 crore through issuance of Tier-II Bonds for a tenure of 6 yeaRs
    • As of December 31, 2024, Total CRAR at 20.29% | Tier I at 17.50% and Tier II at 2.79%.
  • Treasury & Liquidity:
    • The Bank’s Certificate of Deposit (CD) programme has highest rating at A1 from India Ratings, CareEdge Ratings & CRISIL.
    • Liquidity Coverage Ratio (LCR) as on 31.12.2024 is 184.80%.
    • Profit on sale of Investments for the quarter is Rs 39.35 crore.
  • Asset Quality & Provisions:
    • Net slippages improved by 16 bps QoQ to 3.15% in Q3FY25 as compared to 3.31% in Q2FY25.
    • GNPA increased by 2 bps QoQ to 2.97% in Q3FY25 as compared to 2.95% in Q2FY25.
    • NNPA improved by 1 bps QoQ to 0.96% in Q3FY25 as compared to 0.97% in Q2FY25.

Result PDF

Equitas Small Finance Bank announced Q2FY25 results

  • Yield on Gross Advances improved by 4 bps to 16.49% in Q2FY25 over previous quarter.
  • Gross Advances growth at 15% YoY and 3% QoQ. Non Microfinance book grew 20% YoY, led by 23% growth in Housing Finance and 28% growth in SBL over previous year.
  • Overall deposits registered a robust growth of 29% YoY & 6% QoQ
  • Business Highlights:
    • UCV and Used Cars witnessed robust growth with highest ever quarterly disbursements of Rs 887 crore and Rs 323 crore respectively.
    • Used Cars advances crossed Rs 1500 crore in Q2FY25.
    • Disbursement growth of 156% YoY in Micro-LAP (part of SBL).
    • CASA ratio stable at 31%; CA balances grew 72% YoY.
    • Strong Retail Term Deposits growth of 39% YoY to Rs 17,340 crore.
  • Key Ratios:
    • NIM stood at 7.69%.
    • Cost to Income stood at 66.09% in Q2FY25 as compared to 65.75% in Q1FY25 and 64.37% in Q2FY24.
    • RoA and RoE for Q2FY25 at 0.11% and 0.86% respectively.
  • Capital:
    • Networth of the Bank stands at Rs 5,947 crore.
    • As of September 30, 2024, Total CRAR at 19.36% | Tier I at 18.11% and Tier II at 1.25%.
  • Treasury & Liquidity:
    • The Bank’s Certificate of Deposit (CD) programme has highest rating at A1 from India Ratings, CareEdge Ratings & CRISIL.
    • Liquidity Coverage Ratio (LCR) as on 30.09.2024 is 158.79%.
    • Profit on sale of Investments for the quarter is Rs 47.87 crore.
  • Profit & Loss:
    • Net Income, Total Opex and PPOP grew by 11%, 14% and 6% YoY, for Q2FY25 respectively.
    • PAT stood at Rs 13 crore for Q2FY25, as Bank made extra provisions of ~ Rs 146 crore towards Microfinance portfolio.
  • Asset Quality & Provisions:
    • GNPA increased by 28 bps QoQ to 2.95% in Q2FY25 as compared to 2.67% in Q1FY25.
    • NNPA increased by 16 bps QoQ to 0.97% in Q2FY25 as compared to 0.81% in Q1FY25.

Result PDF

Equitas Small Finance Bank announced Q1FY25 results:

Financial Highlights:

  • Yield on Gross Advances improved by 13 bps to 16.45% in Q1FY25 over previous year
  • Gross Advances growth at 18% YoY and 2% QoQ. Non MF book grew 21% YoY, led by 35% growth in Housing Finance and 27% growth in SBL
  • Overall deposits registered a robust growth of 35% YoY & 4% QoQ
  • Key Ratios:
    • NIM stood at 7.97%
    • Cost to Income stood at 65.75% in Q1FY25 as compared to 62.83% in Q4FY24 and 65.05% in Q1FY24
    • RoA and RoE for Q1FY25 at 0.22% and 1.72% 
  •  Capital:
    • Networth of the Bank stands at Rs 6,008 crore
    • As of June 30, 2024, Total CRAR at 20.55% | Tier I at 19.59% and Tier II at 0.96%
  • Treasury & Liquidity:
    • The Bank’s Certificate of Deposit (CD) programme has highest rating at A1 from India Ratings, CareEdge Ratings & CRISIL
    • Liquidity Coverage Ratio (LCR) as on 30.06.2024 is 178.60%
    • Profit on sale of Investments for the quarter is Rs 29.24 crore
  • Profit & Loss:
    • Net Income, Total Opex and PPOP grew by 11%, 13% and 9% YoY, for Q1FY25 respectively
    • PAT stood at Rs 26 crore for Q1FY25, decline of 87% YoY and 88% QoQ due to floating provision of Rs 180 crore to strengthen the PCR of the bank.
  • Asset Quality & Provisions:
    • Annualized gross slippages stands at 4.49% for Q1FY25 as compared to 4.34% in Q4FY24 and 3.07% in Q1FY24
    • GNPA increased by 7 bps YoY to 2.67% in Q1FY25 as compared to 2.60% in Q1FY24
    • NNPA improved by 31 bps YoY to 0.81% in Q1FY25 as compared to 1.12% in Q1FY24
    • In order to strengthen PCR, Bank has made additional provision in the form of floating provision of Rs.180 crore during the quarter, PCR improved to 70.29% in Q1FY25 from 56.06% in Q4FY24 and 57.79% in Q1FY24

Business Highlights:

  • New products scale up well. Merchant OD and Used Cars advances crossed Rs 1100 crore and Rs 1300 crore respectively in Q1FY25
  • Disbursement growth of 78% YoY in Micro-LAP (part of SBL) as portfolio indicators turn favourable
  • CASA ratio stable at 31%; CA balances grew 32% YoY
  • Strong Retail Term Deposits growth of 47% YoY to Rs 16,128 crore 

Result PDF

Equitas Small Finance Bank announced Q4F24 & FY24 results:

Q4FY24 Financial Highlights:

  • Quarterly PAT: The PAT for Q4FY24 stood at Rs 208 crore compared to Rs 190 crore in Q4FY23.
  • Gross Advances: Recorded at Rs 34,337 crore in Q4FY24, witnessing a 23% YoY growth.
  • Gross Non-Performing Assets (GNPA): Reduced to 2.52% in Q4FY24 from 2.60% in Q4FY23.
  • Securitized Portfolio: Amounting to Rs 1,732 crore with Rs 584 crore securitized/assigned in Q4FY24.
  • Used Car Advances: Surpassed Rs 1,200 crore during Q4FY24.
  • Merchant Overdraft (OD): Grew 213% YoY to Rs 992 crore in Q4FY24.
  • Credit-Deposit Ratio (CD Ratio): Improved to 86.98% in March 2024 from 103.40% in March 2023.
  • Net Interest Margin (NIM): Reported at 8.17% for Q4FY24.

FY24 Financial Highlights:

  • Annual Profit After Tax (PAT): The bank reported its highest PAT of Rs 799 crore for FY24, marking a growth of 39% compared to Rs 574 crore in FY23.
  • Total Deposits: As of Q4FY24, deposits reached Rs 36,129 crore, a robust 43% increase YoY.
  • Return on Assets (RoA) and Return on Equity (RoE): For FY24 stood at 2.00% and 14.43%, respectively.

Efficiency and Capital Ratios:

  • Cost to Income Ratio: Remained stable at 62.83% in Q4FY24.
  • Capital Adequacy: Total CRAR at 21.70%, with Tier I at 20.71% and Tier II at 0.99%.
  • Provision Coverage Ratio: Bank maintains a stringent provisioning norm at 56.06%.
  • Issuer Rating: The bank's rating stands at AA-/Stable.
  • Liquidity Coverage Ratio (LCR): Tallied at 176% as of March 31, 2024.
  • Investment Gains: Profit on the sale of investments for the quarter is Rs 25.64 crore.
  • CASA Ratio: Stood at 32%, with Term Deposits witnessing a 68% YoY growth to Rs 24,577 crore.

     

Result PDF

Equitas Small Finance Bank announced Q2FY24 results:

I. Financial Results:
- PAT for the quarter at Rs 198 crore compared to Q2FY23 at Rs 116 crore, showing a growth of 70% YoY.
- Gross Advances at Rs 31,229 crore with a YoY growth of 37% and a QoQ growth of 6%.
- Quarterly disbursement at Rs 4,961 crore in Q2FY24, with a YoY growth of 29%.
- GNPA down to 2.12% from 2.60% in Q1FY24.
- ROA and RoE of 2.03% and 14.62% respectively.

II. Business Highlights:
- Introduction of an InsurTech platform to enhance the digital insurance buying experience for customers.
- Addition of 29 banking outlets across Andhra Pradesh, Karnataka, and Telangana, with a focus on asset centers.
- Strong disbursement across all product segments, with the Small Business Loans (SBL) recording a YoY disbursement growth of 36%.
- The CASA ratio stood at 34%, and Term Deposits grew 82% YoY to reach Rs 20,490 crore.
- Retail Term Deposits grew 58% YoY to Rs 12,119 crore, contributing to 59% of total term deposits.

III. Key Ratios:
- NIM dropped by 33 bps to 8.43%.
- Cost to Income stood at 64.37% in Q2FY24, compared to 65.05% in Q1FY24 and 66.58% in Q2FY23.
- ROA and RoE for Q1FY24 at 2.03% and 14.62% respectively.
- The net worth of the Bank stands at Rs 5,479 crore.
- Total CRAR at 21.33%, Tier I at 20.65%, and Tier II at 0.68%.

IV. Asset Quality & Provisions:
- Annualized gross slippages stable at 3.47% for Q2FY24.
- GNPA improved by 170bps YoY to 2.12% in Q2FY24.
- NNPA improved by 102bps YoY to 0.91% in Q2FY24.
- Additional provisions of Rs 28.04 crore were made during the quarter to strengthen PCR.

Commenting on the quarterly performance, P N Vasudevan, Managing Director and CEO of Equitas Small Finance Bank said, “This Financial year is witnessing and continue to witness strong credit growth coupled with stable asset quality and a healthy growth in retail term deposits. CASA seems to be an area of concern for the Banking Industry. For Equitas, the interest cost has risen to 7.21% for the quarter. With most of the old deposits at lower rates getting replaced with new deposits at higher rates, we expect a further increase in the interest cost to moderate over the next two quarters. Our Investments in Technology/Digitization continue to progress effectively, the benefits of which should be felt in the upcoming years.”

 

 

Result PDF

Equitas Small Finance Bank announced Q1FY24 results:

  • Credit Growth continues to remain strong with advance growing at 36% YoY and 6% QoQ to Rs 29,601 crore despite Q1 seasonality
  • The bank registered a strong disbursements growth of 47% YoY to Rs 4,757 crore
  • Deposits grew 36% YoY and 9% QoQ to reach Rs 27,709 crore
  • Q1FY24 saw a 33 bps increase in cost of funds sequentially to 6.94% compared to 6.61% for Q4FY23
  • NII grew 28% YoY and 5% QoQ, other income grew 50% YoY and 4% QoQ (excluding ARC sale income in Q4FY23)
  • PAT stood at Rs 191 crore for Q1FY24, growth of 97% YoY and 1% QoQ
  • NIM remains healthy at 8.76%
  • Cost to income stood at 65.05% in Q1FY24 as compared to 58.09% in Q4FY23 and 60.60% in Q1FY23.
  • RoA and RoE for Q1FY24 at 2.10% and 14.54%

Commenting on the quarterly performance, P N Vasudevan, Managing Director and CEO of Equitas Small Finance Bank, said: “The bank has now consistently delivered to a 2% ROA and ~15% ROE over the past three quarters back by strong credit growth, continued traction in retail deposits and a favourable credit cycle in urban and rural geographies. We firmly believe over the past 7 years the Bank has created a strong franchise that is stable, scalable, and sustainable and now aspires to convert to a universal bank. Our investments in technology continue to progress well, the impact of which should be felt in the coming few years.”

 

 

 

Result PDF

Equitas small finance bank announced Q4FY23 results:

  • Highest quarterly PAT of Rs 190 crore in Q4FY23, growth of 59% YoY
  • Quarterly disbursement at Rs 5,917 crore in Q4FY23, growth of 80% YoY
  • Gross advances at Rs 27,861 crores with a growth of 35% YoY
  • Highest RoA and RoE of 2.28% and 15.52% respectively
  • Deposits grew 34% YoY and 8% QoQ to reach Rs 25,381 crore
  • The receipt of the AD-1 license to further strengthen the product suite
  • NII grew 28% YoY and 9% QoQ, other income grew 66% YoY and 38% QoQ
  • Board recommended a maiden dividend of Re 1 per equity share for FY23

Commenting on the quarterly performance, P N Vasudevan, Managing Director and CEO of Equitas Small Finance Bank, said: “During the Bank’s initial years, the focus was on laying the foundation to transition from an NBFC into a bank. The bank is in its second phase of growth and the overarching strategy is to leverage the investments made in branches, people, systems, products, and most importantly customers. Initiatives centred on these investments will drive operational efficiencies, customer retention and improve the overall profitability of the bank. As a stable, sustainable, and scalable bank, Equitas is well positioned to capitalise on industry growth potential.”

 

 

Result PDF

Equitas Small Finance Bank announced Q3FY23 results:

  • Q3FY23:
    • Q3FY23 was a strong quarter across key performance indicators delivering sustainable loan and deposit growth, stable margins, improved asset quality.
      • Loan growth – 27% YoY | Deposit growth – 31% YoY.
      • 93 bps improvement in GNPA YoY.
      • Highest ever PAT at Rs 170 crore.
      • Improved return ratios with RoA at 2.21% and RoE at 14.94%.
    • PPoP expanded to 3.62% from 3.52% YoY as productivity improved across product segments.
    • Asset quality continues to improve with DPD buckets normalized with covid impact waning off and restructured book contracting further. 1-90 DPD stands at 7.53% in Q3FY23 as compared to 10.43% in March 2022 and 5.51% in March 2020 (Pre-Covid19).
    • Bank has utilized Rs 36 crore of Covid Restructured Loan (RL) standard provisions during the quarter and continues to hold Rs 60 crore in Standard RL provisions which may be utilized in the following quarters

Commenting on the quarterly performance, Mr. P N Vasudevan, Managing Director and CEO of Equitas Small Finance Bank said: “The effect of Covid on the bank’s financials has waned. Many initiatives of the Bank to create a stable, sustainable, and scalable bank have started yielding results and the performance of the 3rd quarter reflects the same.

Various projects on the digital side are expected to become operational over the next few quarters. As they go live, we expect further improvement in both productivity and efficiency as well as in generating newer business models.”

Result PDF

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