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.
To preserve capital in these uncertain times, the board did not recommend any dividend for FY21.
