ESAF Small Finance Bank has announced its business performance update for the quarter ended December 31, 2024, highlighting strong growth in deposits and secured advances.
The bank’s total deposits rose by 18.84% year-on-year (YoY) to ₹22,413 crore as of December 31, 2024, compared to ₹18,860 crore in the same period last year. The CASA (Current Account Savings Account) deposits showed remarkable growth, increasing by 56.93% YoY to ₹5,590 crore, with the CASA ratio improving to 24.94% from 18.89% a year ago.
1. Deposits:
- Total deposits: ₹22,413 crore (18.84% YoY growth, 3.70% Q-o-Q growth).
- CASA deposits: ₹5,590 crore (56.93% YoY growth, 5.09% Q-o-Q growth).
- Term deposits: ₹16,823 crore (9.98% YoY growth, 3.25% Q-o-Q growth).
2. Advances:
- Gross advances stood at ₹18,739 crore, up 9.25% YoY.
- Secured advances now constitute 44.35% of the gross advances, compared to 29.46% a year ago.
- Gold loans exhibited stellar growth, surging 82.06% YoY to ₹4,577 crore.
- Retail and other loans grew by 47.07% YoY to ₹3,734 crore.
3. Customer Base and Distribution Network:
- The bank’s customer base reached 91.92 lakh, with 8.18 lakh new customers added in the nine-month period ended December 31, 2024.
- The bank operates through 770 branches, 669 ATMs, and 1,106 Customer Service Centres (CSCs) across 24 states and 2 union territories.
ESAF Small Finance Bank continues to focus on enhancing its secured lending portfolio, which constituted 44.35% of gross advances as of December 31, 2024, up from 29.46% in the previous year. The bank’s credit-deposit (CD) ratio stood at 84%.
The bank’s growth in CASA deposits and gold loans underscores its ability to leverage customer demand for both transactional and secured products.
