Shares of this bank shine as its deposits rise in Q4FY23; do you have it?

During this quarter the deposits rise by 34%.

About the Q4 update

Bank has shown good growth in its business and it is also taking new initiatives such as launching credit cards for its employees and bank has also entered into personal loan segment and it is expected that this segment will scale up over the medium term. Recently, Equitas Small Finance has announced its result which says that Bank’s total deposits grew 34% to Rs 25,381 crore (Provisional) as of March 31, 2023 (Q4FY23), as compared to Rs 18,951 crore on a yearly basis. Quarterly, the deposits stood at Rs 23,393 crore as of December 2022.

Gross Advances stood at Rs 28,061 crore (Provisional) as of March 31, 2023, representing a 36% year-on-year (YoY) increase from Rs 20,597 crore as of March 31, 2022, and a QoQ increase from Rs 24,915 crore on December 2022.

The CASA increased by 9% year on year to Rs 10,732 crore as of March 31, 2023 (Provisional) from Rs 9,855 crore. CASA ratio improved to 42% (Q4FY23) from 46%. (Q3FY23). Equitas Small Finance Bank provides personalized services and assists in locating the best solution to meet individual banking needs for savings.

About Equitas Small Finance Bank

Equitas Small Finance Bank Limited functioned as a wholly-owned subsidiary of Equitas Holding Ltd before obtaining a small bank licence. The holding company began operations in the microfinance market in 2007 and expanded into automobile and home financing in 2011. In 2013, we also entered the SME and LAP markets.

Share price movement

Equitas Small Finance Bank was trading at Rs.70.55 on the BSE on Thursday and was up 3.96 points or 5.95% from its previous closing price of Rs 66.59. The stock began at Rs 68.19 and has since reached highs of Rs 71.24 and lows of Rs 67.72. On Thursday, around 1023501 shares have been exchanged on the exchange.

The BSE group 'A' stock with a face value of Rs. 10 reached a 52-week high of Rs. 77.87 on 06-Mar-2023 and a low of Rs. 37.50 on 17-Jun-2022. The scrip's one-week high and low were Rs. 71.24 and Rs. 64.90, respectively.

The current market cap of the company is Rs 7785.98 crore. The promoters holding in the company stood at 74.48%, while Institutions and Non-Institutions held 19.42% and 6.10%, respectively.