Financials stocks were trading in green, with the S&P BSE Finance index increasing 115.06 points or 1.55% at 7538.27 at 09:49 IST. Among the components of the S&P BSE Finance index, Angel Broking Ltd (up 4.99%), Karnataka Bank Ltd (up 4.54%),Indiabulls Housing Finance Ltd (up 3.99%),IndusInd Bank Ltd (up 3.3%),JM Financial Ltd (up 3.01%), were the top gainers. Among the other gainers were SBI Cards & Payment Services Ltd (up 2.97%), CSB Bank Ltd (up 2.82%), Equitas Small Finance Bank Ltd (up 2.82%), Piramal Enterprises Ltd (up 2.71%), and Shriram City Union Finance Ltd (up 2.62%). On the other hand, Centrum Capital Ltd (down 0.65%), Pilani Investment & Industries Corporation Ltd (down 0.5%), and Satin Creditcare Network Ltd (down 0.48%) turned lower.
Equitas Small Finance Bank becomes the first SFB to offer end to end online process for NRI account opening
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Equitas Small Finance Bank Ltd Q4FY21 net profit at Rs 112 86 crore
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Equitas Small Finance Bank Ltd. (ESFBL) reported net profit for the quarter ended March has almost trebled to ₹113 crore.
Net interest income rose to ₹449 crore from ₹424 crore in the year-earlier period. Net interest margin stood at 7.57%, it said in a filing.
The percentage of gross non-performing assets (GNPA) to gross advances rose to 3.73% from 3%, while the percentage of net NPAs to net advances declined to 1.58% from 1.67%. Provision coverage ratio stood at 58.59%.
Advances grew 17% to ₹17,925 crore while it disbursed ₹2,535 crore. Current account savings account (CASA) stood at ₹5,614 crore while CASA ration was 34%.
The bank wrote off ₹171 crore in the microfinance portfolio and held a management overlay provision of ₹153 crore.