Equitas SFB’s collection efficiency improves to 83.49% in June

In April, the slope had clocked a billing ratio of 84.68%.

Equitas Small Finance Bank (ESFB) connected Wednesday said its postulation ratio had improved to 83.49% successful June, up from 77.84% successful May, but declining from the April fig of 105.16%. The billing ratio of the slope has besides inched up to 69.52% successful June from 66.97% successful the erstwhile month, according to the provisional figures filed by the ESFB with the banal exchanges. In April, the slope had clocked a billing ratio of 84.68%.

MD & CEO P N Vasudevan said: “The archetypal 4th of the twelvemonth witnessed tepid repayments arsenic astir of the regions the slope operates successful were nether lockdown. The bank’s borrowers are mostly successful the informal segments, dealing successful regular usage products and services which were temporarily disrupted owed to the Covid-19 restrictions imposed. However, during the period of June 2021, states successful the westbound and northbound experienced improved postulation efficiencies arsenic lockdowns eased portion confederate states opened up towards the extremity of the month. We expect a crisp betterment successful collections successful the coming months arsenic Covid question 2 recedes.”

The bank’s gross advances grew 15% YoY successful the 4th ended June to Rs 17,839 crore from Rs 15,573 crore successful the corresponding 4th past fiscal year. Sequentially, the bank’s gross advances person remained level compared to Rs 17,925 crore successful Q4FY21.

Disbursements for the 4th stood astatine Rs 1,271 crore arsenic against Rs 564 crore successful Q1FY20, registering 125% growth. However, disbursement declined 50% successful Q1FY22 from Rs 2,535 crore successful Q4 FY21. Total deposits grew 45% to Rs 17,095 crore successful Q1FY22 from Rs 11,787 crore successful Q1FY20. Deposits were up 4% successful Q1FY22 compared to Rs 16,392 crore successful Q4FY21. CASA accrued to Rs 6,794 crore from Rs 2,354 crore. CASA ratio was astatine 40% arsenic connected 30 June, 2021, arsenic against 20% arsenic connected June 30, 2020, and 34% arsenic connected March 31,2021, it added.