Equitas Small Finance Bank Q3 profit jumps 18 pc to Rs 202 crore

Chennai-based Equitas Small Finance Bank on Thursday reported a healthy set of numbers with net income rising over 18 per cent to Rs 202 crore in the three months ended December 2023, helped by better asset quality.

It had a net profit of Rs 170 crore in the year ago period.

Gross advances rose 32 per cent to Rs 32,776 crore in the third quarter of the current fiscal, according to a statement.

The net interest margin stood at 8.37 per cent while the net interest income grew 21 per cent in the latest December quarter.

The bank's asset quality improved massively, with gross bad loans falling to 2.38 per cent of the total advances from 3.46 per cent in the year-ago period.