Equitas Small Finance Bank surges on reporting 20% growth in deposits in Q2FY23

Equitas Small Finance Bank is currently trading at Rs. 50.75, up by 0.70 points or 1.40% from its previous closing of Rs. 50.05 on the BSE.

The scrip opened at Rs. 51.25 and has touched a high and low of Rs. 51.85 and Rs. 50.20 respectively. So far 128808 shares were traded on the counter.

Equitas Small Finance Bank
Equitas Small Finance Bank

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 71.25 on 18-Oct-2021 and a 52 week low of Rs. 37.50 on 17-Jun-2022.

Last one week high and low of the scrip stood at Rs. 51.85 and Rs. 48.55 respectively. The current market cap of the company is Rs. 6318.50 crore.

The promoters holding in the company stood at 74.52%, while Institutions and Non-Institutions held 19.68% and 5.80% respectively.

Equitas Small Finance Bank has posted 20% growth in total deposits at Rs 21,726 crore (Provisional) for the second quarter ended September 30, 2022 (Q2FY23) as compared to Rs 18,094 crore in Q2FY22. On a quarterly basis, the deposits were up 7% from Rs 20,386 crore as of June 2022.

The disbursement for the quarter increased 22% to Rs 3,845 crore (Provisional), from Rs 3,145 crore in July-September quarter of FY22. CASA Ratio stood at 48.13% (Provisional) as of September 30, 2022 as compared to 51.74% as of June 30, 2022. CASA Deposits stood at Rs 10,456 crore(Provisional) as of September 30, 2022, posting a 28% rise in year-on-year (YoY) terms against Rs 8,200 crore as of September 30, 2021.

Gross Advances stood at Rs 22,802 crore (Provisional) as of September 30, 2022, posting a 20% rise in year-on-year against Rs 18,978 crore as of September 30, 2021 and 5% growth in quarter-on-quarter basis from Rs 21,688 crore in in June 2022.

Equitas Small Finance Bank offers personalised services and helps finds the right product to suit individual banking requirements for their savings.

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