ESAF SFB Reports 33% Surge in deposits

5 Jul 2024 , 04:44 PM

ESAF Small Finance Bank (SFB) reported a 33.41% increase in total deposits, reaching ₹20,887 Crore in Q1 FY25, up from ₹15,656 Crore in Q1 FY24.

Shares of ESAF Small Finance Bank (SFB) has witnessed a 23% dip in the last one year, and 22% dip since the beginning of this year.

On a sequential basis, total deposits grew 5.13% from ₹19,868 Crore as of March 31, 2024. Gross advances surged 30.04% to ₹18,783 Crore as of June 30, 2024, compared to ₹14,444 Crore on June 30, 2023. On a quarter-on-quarter (QoQ) basis, gross advances rose slightly from ₹18,772 Crore as of March 31, 2024.

CASA (Current Account Savings Account) stood at ₹4,927 Crore as of June 30, 2024, marking a 72.75% year-on-year (YoY) increase and a 9.44% QoQ rise. The CASA ratio improved to 23.59% as of June 30, 2024, from 18.22% on June 30, 2023, and 22.66% on March 31, 2024.

Gross non-performing assets (GNPA) ratio increased to 6.61% as of June 30, 2024, from 1.65% on June 30, 2023. Net non-performing assets (NNPA) ratio rose to 3.22% as of June 30, 2024, compared to 0.81% on June 30, 2023.

The bank’s distribution network included 755 branches and 628 ATMs as of June 30, 2024.

ESAF SFB focuses on expanding banking services to unbanked and underbanked areas, while maintaining a presence in urban, semi-urban, and rural areas.

The bank reported a standalone profit of ₹43.35 Crore in Q4 FY24, down 57.2% from ₹101.38 Crore in Q4 FY23. Total income rose 32.7% to ₹1,151.84 Crore in Q4 FY24, compared to ₹867.82 Crore in the corresponding quarter last year.