ICICI Direct: Equitas Small Finance Bank IPO - Well Diversified Portfolio With Fastest Shift Towards Non-MFI Loans
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ICICI Direct Report
Equitas Small Finance Bank is a mass market focused small finance bank (SFB), providing banking products and services to unserved and underserved segment.
It is the largest SFB in India in terms of number of banking outlets and second largest SFB in India in terms of assets under management and total deposits as on FY19.
As of June 30, 2020, the bank had 856 banking outlets and 322 ATMs spread across 17 states and union territories in India.
The company has a diversified portfolio with advances growing at 34% compound annual growth rate from FY18-20 to Rs 13,747 crore (Rs 14,389 crore as on June 2020).
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