ESAF Small Finance Bank announced Q1FY25 results:
- Profit Metrics
- Net Interest Income (NII) grew 0.5% YoY to Rs 588 crore compared to Rs 585 crore in Q1FY24 and the Net Interest Margin (NIM) for Q1FY25 stood at 9.4%
- Pre-provisioning operating profit (PPoP) for Q1FY25 stood at Rs 254 crore
- Profit After Tax at Rs 63 crore in Q1FY25 as compared to Rs 43 crore in Q4FY24
- Cost of funds for the Q1FY25 was 7.4%
- CRAR was 23.5% and Tier I at 20.0% as at end of June 2024
- Business
- Total business grew by 23.4% YoY to Rs 40,551 crore in Q1FY25 as against Rs 32,860 crore in Q1FY24.
- Advances
- Gross advances grew by 30.0% YoY to Rs 18,783 crore in Q1FY25 as against Rs 14,444 crore in Q1FY24
- Total Loan Book for the quarter stood at Rs 19,664 crore, up by 14.3% YoY. Of the total loan book, Micro Loan contributes 66%, Retail Loans and others being 34%
- Disbursements during Q1FY25 stood at Rs 4,503 crore as against Rs 4,509 crore in Q1FY24
- Deposits
- The total deposits grew by 33.4% YoY to reach Rs 20,887 crore in Q1FY25 compared to Rs 15,656 crore in Q1FY24
- CASA depositsincreased by 72.8% YoY to Rs 4,927 crore in Q1FY25 compared to Rs 2,852 crore in Q1FY24; CASA ratio stand at 23.6%
- Asset Quality
- Bank’s asset quality stand (GNPA) at 6.6% in Q1FY25
- Net NPA stood at 3.2% of the Advances in Q1FY25
- Provision Coverage Ratio (PCR) stood 61.9%
Commenting on the Q1FY25 performance, K. Paul Thomas, MD & CEO of ESAF Small Finance Bank, said, “Our bank continues to demonstrate robust growth across all key metrics, with a 23.4% year-onyear increase in total business and a notable rise in CASA deposits. The deposits remain solid, with 92% being retail deposits, which further solidifies our financial stability. By reducing our reliance on our major business correspondent, we are effectively mitigating concentration risk. Our ongoing investment in advanced technology will drive innovation and transform our operational efficiency. With these strategic measures in place, we are confident in enhancing our asset quality over the next two quarters.”