Shares of this small finance bank surged after posting strong quarterly performance!
The bank reported robust disbursement across all product segments, with the Bank’s flagship product - SBL clocking a YoY disbursement growth of 73%.
The shares of Equitas Small Finance Bank Ltd are buzzing on the bourses today. As of 12.16 pm, the shares of the bank are trading higher by 1.43%. Today, the company reported a spurt in trading volume by more than 2.6 times. Owing to this, the stock is one of the top gainers on BSE from Group A.
Meanwhile, the frontline index S&P BSE Sensex is up by 0.09%.
Robust Quarterly Performance
The surge in the share price came on the back of the strong quarterly performance reported yesterday. As per the exchange filing, Q3FY23 was a strong quarter across key performance indicators delivering sustainable loan and deposit growth, stable margins, and improving asset quality.
The bank reported robust disbursement across all product segments, with the Bank’s flagship product - SBL clocking a YoY disbursement growth of 73%. As per the management, various projects on the digital side are expected to become operational over the next few quarters. As they go live, they expect a further improvement in both productivity and efficiency as well as in generating newer business models.
About the company
Equitas Small Finance Bank is a small finance bank headquartered in Chennai. As a new-age bank, Equitas SFB offers a variety of products and services to cater to the needs of various segments such as individuals with limited access to formal financing channels along with affluent & mass affluent, small & medium enterprises (SMEs) as well as corporates.
The bank’s focus lies on providing credit to the unbanked and underbanked micro & small entrepreneurs, developing products to address the growing aspirations at the ‘bottom of the pyramid’. With 860 banking outlets and 336 ATMs, the bank’s network is spread across 17 states and UTs.
Stock movement of Equitas Small Finance Bank
Today, the scrip of Equitas Small Finance Bank opened at Rs 58 and has touched a high and low of Rs 58.55 and Rs 55.65, respectively. So far 7,10,486 shares have been traded on the bourses. The bank commands a market capitalization of Rs 7,101.64 crore.
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