ESAF Small Finance Bank Ltd Share Price – NSE  /  BSE

Banks, Small Cap

ESAF Small Finance Bank will hold a meeting of the Board of Directors of the Company on 8 May 2024.

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On sequential basis, the bank’s total deposits increased 5.34% to Rs 18,860 crore as on 31 December 2023.

Gross advances surged 33.72% to Rs 18,878 crore as on 31 March 2024 as compared to Rs 14,118 crore recorded in 31 March 2023.

On quarter on quarter (QoQ) basis, the gross advances increased 10.06% from Rs 17,153 crore as of 31 December 2023.

CASA stood at Rs 4,502 crore as on 31 March 2024 (up 43.47% YoY and up 26.35% QoQ). CASA ratio increased to 22.66% as of 31 March 2024 from 21.40% as of 31 March 2023 and 18.89% as of 31 December 2023.

On asset quality front, the bank's gross non-performing assets (GNPA) stood at 998 crore as on 31 March 2024 as against Rs 352 crore as on 31 March 2023, surged by 183.52% YoY basis.

Net Non-Performing Assets (NNPA) stood at Rs 487 crore as on 31 March 2024, steeply higher than Rs 158 crore as on 31 March 2023.

Gross NPA margin grew to 5.29% as on 31 March 2024 against 2.49% as on 31 March 2023. Net NPA margin increased to 2.65% as on 31 March 2024 as compared to 1.13% as on 31 March 2023.

ESAF Small Finance Bank primarily focus on expanding the banking horizon to new unbanked and underbanked area, yet bank stand with for all with presence in urban, semi urban, rural and rural unbanked areas. As on 31 March 2024, The Bank’s distribution network stood at 753 branches and 614 ATMs.

The bank reported a standalone profit of Rs 112.14 crore in Q3 FY24, steeply higher from Rs 37.41 crore posted in Q3 FY23. Total income jumped 39.9% to Rs 1,094.35 crore in Q3 FY24 as compared with Rs 782.19 crore posted in corresponding quarter last year.

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The bank will issue 13,500 listed rated, taxable, unsecured, transferable, redeemable, fully paid-up, Basel ll compliant lower tier ll subordinated bonds in the form of non-convertible debentures (tier ll bonds), aggregating upto Rs 135 crore on private placement basis.

In series 3A, issue size of the debentures will be Rs 85 crore with the tenure of 73 months and interest rate will be 11% which shall be paid semi annually.

Consequently, in series 3B, issue size of the debentures will be 50 crore with tenure of 85 months and interest rate will be 11.10% which shall be paid semi annually.

ESAF Small Finance Bank primarily focus on expanding the banking horizon to new unbanked and underbanked area, yet bank stand with for all with presence in urban, semi urban, rural and rural unbanked areas.

The company’s standalone net profit stood at Rs 112.14 crore, steeply higher than Rs 37.41 crore in Q3 FY23. Total income jumped 39.9% to Rs 1094.35 crore in Q3 FY24 as compared with Rs 782.19 crore in Q3 FY23.

The scrip declined 1.25% to end at Rs 59.49 on Monday, 11 March 2024.

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The Board of ESAF Small Finance Bank at its meeting held on 08 March 2024 has approved the proposal to raise funds by way of issuance of Listed, Rated, Taxable, Unsecured, Transferable, Redeemable, Fully Paid-Up, Basel II Compliant Lower Tier II Subordinated Bonds in the form of Non-Convertible Debentures (Tier II Bonds), aggregating upto Rs. 135 crore on a Private Placement basis.

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