Equitas Small Finance Bank Q2 Business Update: Deposits grow 29% YoY, CASA at 34% vs 31% QoQ

Equitas Small Finance Bank has released results for September 30, 2024, reflecting a robust performance despite ongoing challenges in the microfinance sector. Total deposits surged to ₹39,859 crore, marking a 29.25% increase year-on-year and a 6.22% rise from the previous quarter.

Non-microfinance advances rose to ₹30,414 crore, a notable 19.97% increase compared to the same period last year.

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Particulars

(In Rs. Crore unless specified otherwise)

Sept 30, 2023

(Unaudited)

June 30, 2024

(Unaudited)

Sept 30, 2024

(Provisional)

YoY

%

QoQ

%

Total Deposits # 30,839 37,524 39,859 29.25% 6.22%
CASA 10,380 11,724 12,184 17.37% 3.92%
CASA (%) 34% 31% 31%
Cost of Funds 7.21% 7.46% 7.50%
Micro Finance Advances 5,878 5,973 5,636 -4.12%

5.65%

Non Micro Finance

Advances

25,351 28,898 30,414 19.97% 5.25%
Total Gross Advances* 31,229 34,871 36,050 15.44% 3.38%