Equitas SFB shares Q3 update. Advances up 32%, deposits 39%; cost of funds jump to 7.21%

Shares of Equitas Small Finance Bank (Equitas SFB) will be in focus on Friday morning after the small finance bank (SFB) said its gross advances soared 32 per cent while is total deposits went up by 39 per cent in the December quarter.

Equitas SFB said its gross advances stood at Rs 32,777 crore for the quarter compared with Rs 31,229 crore in September and Rs 24,915 crore in the December quarter of last year. Advances were up 5 per cent on sequential basis.

Total deposits jumped to Rs 32,385 crore in the December quarter from Rs 30,839 crore in September and Rs 23,362 crore in the corresponding quarter las year. Deposits were up 5 per cent on sequential basis.

CASA for the quarter fell 2 per cent YoY to Rs 10,593 crore from Rs 10,786 crore in the year-ago quarter. On a sequential basis, CASA was up 2 per cent over Rs 10,349 crore in the September quarter. CASA ratio stood at 33 per cent in the third quarter against 34 per cent in September and 46 per cent in the year-ago quarter.

Cost of funds for the lender increased to 7.36 per cent in the December quarter compared with 7.21 per cent in September quarter and 6.41 per cent in the year-ago quarter.

"Please note that the numbers mentioned above as on December 31, 2023 are provisional numbers and is subject to approval of the Audit Committee and Board of Directors and also subject to review by the Joint Statutory Auditors of the Bank," Equitas SFB said.

The Equitas SFB stock closed at Rs 111.50 on Thursday, up 0.63 per cent on BSE. The scrip is up 21.15 per cent in the last six months and 88.17 per cent in the last one year.

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