ESAF Q4 FY22
ESAF Bank’s Q4 net profit rises 144 pc to Rs 105.60 cr
Kochi/IBNS: ESAF Small Finance Bank posted a 143.93 percent increase in net profit to Rs 105.60 crore for the fourth quarter ended March 31, 2022, as against a net profit of Rs 43.29 crore registered in the year-ago period.
The annual net profit of the bank for the fiscal ended March 31, 2022, is Rs 54.73 crore.
The operating profit during the January-March quarter increased by 174.99 percent to Rs 158.09 crore against Rs 57.49 crore in the same period last year.
Total business increased by 44.36 percent to Rs 25,156 crore, compared to Rs 17,425 crore of the previous fiscal.
The operating profit for the fiscal increased by 17.96 percent to Rs 491.84 from Rs 416.98 crore despite the challenges during the year on account of the pandemic.
Deposits increased by 42.40 percent from Rs 8,999 crore to Rs 12,815 crore for the year ended March 31, 2022.
Total Current Account Savings Account (CASA) improved by 67.45 percent from Rs 1,748 crore to Rs 2,927 crore.
The CASA proportion to deposits also significantly improved from 19.42 percent last year to 22.84 percent for the year ended March 31, 2022.
Gross Advances increased by 44.15 percent from Rs 8,415 crore to Rs 12,131 crore as of March 31, 2022.
The collection efficiency sustainably improved after the covid pandemic and the activity level at the field has attained near normalcy.
Commenting on the results, MD & CEO at ESAF Small Finance Bank K Paul Thomas said: "The overall performance during the financial year was commendable and we as a bank could continue to serve our valued customers better in the difficult times, thereby delivering the joy of banking to everyone."
Gross Non-Performing Assets (NPA) and net NPA increased to 7.83 percent and 3.92 percent from 6.70 percent and 3.88 percent respectively during FY 2022.
The bank as a prudent measure holds additional provisions in excess of the RBI requirement in the standard category to the extent of Rs 66.06 crore as at March 31, 2022, as against Rs 44.04 crore last year.
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