Chennai-based Equitas Small Finance Bank on Thursday reported a healthy set of numbers with net income rising over 18% to ₹202 crore in the three months ended December 2023, helped by better asset quality.
It had a net profit of ₹170 crore in the year-ago period. Gross advances rose 32% to ₹32,776 crore in the third quarter of the current fiscal, according to a statement by Equitas Small Finance Bank.
The net interest margin stood at 8.37% while the net interest income grew 21% in the latest December quarter. The bank's asset quality improved massively, with gross bad loans falling to 2.38% of the total advances from 3.46% in the year-ago period.
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