BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Geojit Research Report
Equitas Small Finance Bank Ltd. is the second-largest SFB in India in terms of total advances as on FY22. Locating across 17 states and union territories, the bank serves through 869 banking outlets.
Loan book has witnessed a compound annual growth rate of 18% during FY19-22 through 25% growth in non-micro finance segments. With recovering economic activities, we anticipate a 20% growth over FY22-FY24E.
Equitas SFB has posted robust retail deposit growth with the current account and savings account mix improving significantly from 20.5% in FY20 to 52.0% in FY22. We expect CASA ratio to be at 55% by FY24, aiding a lower cost of fund.
Gross/net-non performing asset stands at 4.0%/2.1% as on Q1 FY23.
Standard restructured book stands at Rs 410 crore which is 1.9% of the total book. Asset quality is expected to improve gradually over coming quarters supported by improved collections.
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