The bank's gross advances grew 15% YoY in the quarter ended June to Rs 17,839 crore from Rs 15,573 crore in the corresponding quarter last fiscal year. Sequentially, the bank's gross advances have remained flat compared to Rs 17,925 crore in Q4FY21.
In April, the bank had clocked a billing efficiency of 84.68%.
Equitas Small Finance Bank (ESFB) on Wednesday said its collection efficiency had improved to 83.49% in June, up from 77.84% in May, but declining from the April figure of 105.16%. The billing efficiency of the bank has also inched up to 69.52% in June from 66.97% in the previous month, according to the provisional figures filed by the ESFB with the stock exchanges. In April, the bank had clocked a billing efficiency of 84.68%.
MD & CEO P N Vasudevan said: “The first quarter of the year witnessed tepid repayments as most of the regions the bank operates in were under lockdown. The bank’s borrowers are largely in the informal segments, dealing in daily use products and services which were temporarily disrupted due to the Covid-19 restrictions imposed. However, during the month of June 2021, states in the west and north experienced improved collection efficiencies as lockdowns eased while southern states opened up towards the end of the month. We anticipate a sharp improvement in collections in the coming months as Covid wave two recedes.”
The bank’s gross advances grew 15% YoY in the quarter ended June to Rs 17,839 crore from Rs 15,573 crore in the corresponding quarter last fiscal year. Sequentially, the bank’s gross advances have remained flat compared to Rs 17,925 crore in Q4FY21.
Disbursements for the quarter stood at Rs 1,271 crore as against Rs 564 crore in Q1FY20, registering 125% growth. However, disbursement declined 50% in Q1FY22 from Rs 2,535 crore in Q4 FY21. Total deposits grew 45% to Rs 17,095 crore in Q1FY22 from Rs 11,787 crore in Q1FY20. Deposits were up 4% in Q1FY22 compared to Rs 16,392 crore in Q4FY21. CASA increased to Rs 6,794 crore from Rs 2,354 crore. CASA ratio was at 40% as on 30 June, 2021, as against 20% as on June 30, 2020, and 34% as on March 31,2021, it added.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.