Equitas Small Finance Bank gains 9% on strong Q1 business update

Shares of Equitas Small Finance Bank rose 9.3 per cent in Thursday's session after the company released details of the bank's deposits and advances for the quarter ended June 30, 2022 (Q1FY23).

The company, in a filing to exchanges, said its gross advances grew by 22 per cent year-on-year (YoY) from Rs 18,783 crore to Rs 21,699 crore. The bank's total disbursements for Q1FY23 increased by 156 per cent to Rs 3,238 crore compared to last year’s Rs 1,265 crore. The bank’s total deposits increased by 19 per cent YoY to Rs 20,386 crore.

Retail term deposits increased 14 per cent YoY to Rs 7,083 crore as against last year’s Rs 6,793 crore.


The CASA deposits saw YoY growth of 55 per cent and quarter-on-quarter (QoQ) growth of 7 per cent to Rs 10,548 crore. The figure stood at Rs 9,855 crore in March 2022 quarter and at Rs 6,793 crore in the June quarter last year.

Equitas Small Finance Bank added that the numbers mentioned are provisional unaudited numbers.

At 11:10 am, the stock traded at Rs 41.05, around 4.32 per cent higher than its previous close of Rs 39.35.

Equitas Small Finance Bank, incorporated in the year 1993, is a banking company having a market cap of Rs 5,143.18 crore.