Net interest income rose to ₹610 crore from ₹484 crore while net interest margin increased to 9% from 8.14%
Net interest income rose to ₹610 crore from ₹484 crore while net interest margin increased to 9% from 8.14%
Equitas Small Finance Bank (EFSB) more than doubled net profit for the second quarter to ₹116 crore.
Net interest income rose to ₹610 crore from ₹484 crore while net interest margin increased to 9% (8.14%), the bank said in a regulatory filing.
Gross Advances saw 20% growth to ₹22,779 crore while disbursements rose 22% to ₹3,845 crore.
Gross NPAs were down to 3.82% from 4.64% and net NPA to 1.93% from 2.37%. Provision coverage ratio was marginally up at 50.49% against 50.09%.
“Demand for credit continues to remain strong, especially in the informal sector. The 20% year-on-year growth in advances for the first half is expected to improve further in the seasonally active second half,” said P.N. Vasudevan, MD & CEO.
Overall, the effect of Covid is receding and we expect to be back to our pre-Covid levels of growth and profitability going forward, he said.
