Kochi: ESAF Small
Finance Bank Limited, one of the leading small finance banks in India in terms
of yield on advances, AUM growth rate and share of retail deposits (Source:
CRISIL Research Report), has posted a 41.09% jump in net profit to Rs 130.42 cr
for the half-year ended 30 September 2020, as against Rs.92.44. crore posted in
the same period last year.
Commenting on the results, K. Paul Thomas, Managing Director and CEO of
ESAF Small Finance Bank, said “The bank has performed well during the period
and I believe the results show that the micro-entrepreneurs are in a recovery
mode after the COVID-19 pandemic induced slow down, indicating a positive sign
for the economy altogether.”
The total business during the period increased by 35.06% to Rs.15,582
cr. The deposits increase by 35.38% to Rs 8208 cr and advances increased by
34.70% to Rs 7374 cr. Gross NPAs as a percentage of gross advances decreased
from 1.76% as at 30 September 2019 to
1.32% as at 30 September 2020 and net NPAs as a percentage of net advances
reduced from 0.62% as at 30 September 2019 to 0.19% as at 30 September 2020.
The provision coverage ratio improved to 93.45% as at 30 September 2020 from
81.53% as at 30 September 2019. The CRAR was 24.29% with Tier I CRAR of 21.10%
as at 30 September 2020, as against a regulatory requirement of 15% and 7.50%,
respectively.
On the impact of COVID-19, K. Paul Thomas said “The bank's customers
have shown immense resilience in the face of adversity. I believe the bank has
taken suitable steps and sufficient safeguards to support the customers to tide
over the crisis and bring them back to normalcy”. He also expressed his
gratitude for the hard work and commitment of the employees in the face of the
pandemic.
The bank opened 29 branches during the half-year ended 30 September
2020, giving it a total of 483 branches across 19 states and two Union
Territories.
Highlights of the Results
(Rs. in crores, except percentages)
|
|
As at and for the
half-year ended 30 September 2020 |
As at and for the
half-year ended 30 September 2019 |
Growth (Cr) |
Growth % |
|
Net Profit |
130.42 |
92.44 |
37.98 |
41.09% |
|
Deposits |
8208.39 |
6063.37 |
2145.02 |
35.38% |
|
CASA |
1236.85 |
741.71 |
495.14 |
66.76% |
|
Gross Advances |
7373.77 |
5474.24 |
1899.53 |
34.70% |
|
Net Interest Income |
485.91 |
365.95 |
119.96 |
32.78% |
|
Operating Profit |
264.94 |
152.80 |
112.14 |
73.39% |
|
Net Profit |
130.42 |
92.44 |
37.98 |
41.09% |
|
Business |
15582.16 |
11537.61 |
4044.55 |
35.06% |
|
|
As at and for the
half-year ended 30 September 2020 |
As at and for the
half-year ended 30 September 2019 |
|
Return on Assets (Annualised) |
2.47% |
2.31% |
|
EPS in Rs. |
3.05 |
2.16 |
|
CRAR |
24.29% |
25.69% |
|
Gross NPA |
1.32% |
1.76% |
|
Net NPA |
0.19% |
0.62% |
|
Provision Coverage Ratio |
93.45% |
81.53% |
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