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Q1FY21 Financial Performance of Equitas Small Finance Bank Limited
Posted on: 11/Aug/2020 9:08:03 AM
Q1FY21 Highlights:
Key Highlights for Q1FY21:
Advances:
- Advances as of Q1FY21 was at Rs. 15,573 Cr, Advances^ growth of 27% YoY
- The Bank disbursed Rs. 564 Cr in Q1FY21
- 76% of advances* is secured loans
Liabilities:
- Deposits excluding CD at Rs. 11,471 Cr as on 30th June 2020, growth of 30% YoY and 11% QoQ
- Retail TD at Rs. 4,377 Cr as on 30th June 2020, growth of 96% YoY and 15% QoQ
- Savings Account deposits at Rs. 2,024 as on 30th June 2020, growth of 9% QoQ
- CASA stood at Rs. 2,354 Cr as on 30th June 2020, CASA as a % of Total Deposits at 21%
- All the Channels (TASC, CA, Corporate Salary, NR) started their full-fledged functioning in Jun’20
Key Ratios:
- Cost to Income+ at 66.41% in Q1FY21 as compared to 69.09% in Q1FY20
- RoA and RoE# for Q1FY21 at 1.20% and 8.72% respectively
Capital:
- As of June 30, 2020 Total CRAR at 21.59% and Tier-I CRAR of 20.61%; Well above minimum regulatory requirements of 15% and 7.5%
- Tier II Capital at 0.98%
Treasury & Liquidity:
- Bank has undertaken Inter-Bank Participation Certificates (IBPCs) with a mix of PSL/Non-PSL advances which further enhances the liquidity of the Bank
- Liquidity Coverage Ratio (LCR) as on 30.06.2020 at 139.4% much above the minimum regulatory requirement of LCR at 80%
- Average cost of funds for Q1FY21 at 7.63%
Profit & Loss:
- Net Interest Income for Q1FY21 at Rs. 404 Cr as against Rs. 337 Cr in Q1FY20, NIM* at 8.63%
- PBT before provisions and write off for Q1FY21 at Rs. 146 Cr as against Rs. 123 Cr in Q1FY20
- During the quarter, Bank made provisions of Rs. 68.34 Cr including additional provision of Rs. 45 Cr for potential impact of COVID-19 in addition to Rs. 99.63 Cr COVID-19 provision created in last quarter.
- The bank now carries Rs. 144.63 Cr of COVID-19 related provisions (other than Standard and NPA Provisions), which constitutes 0.93% of our total Gross Advances.
- PAT for Q1FY21 at Rs. 60 cr as against Rs. 59 Cr in Q1FY20
Balance Sheet:
- Advances as of June 30, 2020 grew 27% YoY to Rs. 15,573 Cr
- Micro Finance grew by 16% YoY from Rs. 3,124 Cr in Q1FY20 to Rs. 3,618 Cr in Q1FY21
- Small Business Loans (Incl. HF) grew by 32% YoY from Rs. 4,926 Cr in Q1FY20 to Rs. 6,484 Cr in Q1FY21
- Vehicle Finance grew by 25% YoY from Rs. 3,027 7 Cr in Q1FY20 to Rs. 3,776 Cr in Q1FY21
- MSE Finance grew by 154% YoY from Rs. 280 Cr in Q1FY20 to Rs. 712 Cr in Q1FY21
- Corporate Loans grew by 39% YoY from Rs. 555 Cr in Q1FY20 to Rs. 772 Cr in Q1FY21
Liabilities & Branch Banking:
- Deposits excluding CD at Rs. 11,471 Cr, growth of 30% YoY
- Retail TD at Rs. 4,377 Cr as on 30th June 2020, growth of 96% YoY and 15% QoQ
- Savings Account deposits at Rs. 2,024 as on 30th June 2020, growth of 9% QoQ
- CASA stood at Rs. 2,354 Cr as on 30th June 2020, CASA as a % of Total Deposits at 21%
Asset Quality:
- GNPA$ at 2.68% in Q1FY21 as compared to 2.72% in Q4FY20 and 2.73% in Q1FY20
- NNPA$ at 1.39% in Q1FY21 as compared to 1.50% in Q4FY20 and 1.54% in Q1FY20
