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27 Years
4.4 Star
1 Crore +
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.
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