BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Equitas Small Finance Bank reported a profit after tax of Rs 119 million (our estimate: Rs 705 million) impacted by higher opex and elevated provisions on account of restructuring.
Equitas' business growth remains muted, with non-micro finance institution assets under management flat QoQ, while the MFI portfolio declined.
Liability momentum continues to stay strong, with current account and savings account ratio improving to 40%.
On the asset quality front, slippages stood elevated as collections were impacted due to the second Covid-19 wave.
However, higher upgrades provided some support.
Gross non performing asset/net non performing asset increased by 103 basis point/80 bp QoQ, while the restructuring book stood elevated at Rs 13.3 billion (~7.5% of loans).
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