Equitas Holdings Limited (EHL) announced its unaudited consolidated results for the quarter ended June 30, 2019.
Highlights
The Board constituted committee has submitted the scheme of arrangement with the stock exchanges and SEBI. The company is awaiting regulatory approvals for filing the scheme with the NCLT for approval of the listing of the Bank.
Equitas Small Finance Bank has appointed Mr. Navin Puri as an Independent Director. He recently retired as Country Head of Branch Banking at HDFC Bank. His addition is expected to strengthen the Bank’s board due to his extensive experience of over two decades in banking.
Quarterly Highlights (Q1 FY20)
Net Interest Income (NII) grew 35% YoY to ₹344 crore; Net Interest Margin (NIM) at 8.62%
Profit before provision grew 66% to ₹126 crore; cost-to-income ratio at 68.62% (vs 75.89% in Q1 FY19)
Profit After Tax (PAT) grew 75% YoY to ₹61.92 crore (vs ₹35.38 crore in Q1 FY19)
Advances grew 38% YoY to ₹12,355 crore
Unsecured lending constituted 30% of total portfolio
Deposits grew 52% YoY to ₹8,670 crore; CASA ratio at 26%
Customer deposits as a % of total borrowings stood at 63.30%
Capital adequacy at 21.49%; Tier I ratio at 20.11%
Profit & Loss
Net Interest Income grew 35% YoY to ₹344 crore
Liability fee income grew 29% YoY to ₹17 crore
Cost-to-income ratio: 68.62% vs 75.89% in Q1 FY19
Cost-to-assets: 6.68%
Provisions and loan loss charges: ₹30.57 crore; PCR at 44%
ROA: 1.50%; ROE: 9.79%
Advances
Micro Finance: ₹3,124 crore (↑29% YoY)
Small Business Loans (incl. housing finance): ₹5,025 crore (↑53% YoY)
Vehicle Finance: ₹3,042 crore (↑28% YoY)
Working Capital loans for MSMEs: ₹280 crore (↑324% YoY)
Unsecured business loans reduced to ₹292 crore
Financial Institution & Corporate Loans: ₹555 crore (↑118% YoY)
Disbursements: ₹2,018 crore (↑5% YoY)
Liabilities & Branch Banking
Deposits grew 52% YoY to ₹8,670 crore
CASA ratio: 26%
Retail term deposit accounts: 1,43,040 (vs 1,06,955 in Q4 FY19)
Retail term deposits: ₹3,027 crore (vs ₹2,408 crore in Q4 FY19)
Retail CASA customers: 4,95,355 (vs 4,77,053 in Q4 FY19)
CASA: ₹2,235 crore (16.32% of total borrowing)
Insurance premium mobilised: ₹42.84 crore
Mutual fund AUM crossed ₹113 crore
Asset Quality
GNPA: 2.75% (vs 2.52% in Q4 FY19; 2.84% in Q1 FY19)
NNPA: 1.54% (vs 1.43% in Q4 FY19; 1.51% in Q1 FY19).
