Equitas Small Finance Bank has revised the interest rates on itsFixed Deposit across tenures with effect from 2 December 2019.

Equitas offers interest on fixed deposit 8.25% p.a for a tenure of 888 Days. Senior citizens will get the benefit of 0.60% additional interest rate that makes it to 8.85% p.a.

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Equitas Holdings has allotted 13,256 equity shares of Rs 10 each under ESOS on 22 November 2019. The paid up share capital of the company accordingly increases from Rs 341,76,13,970 to Rs 41,77,46,530.

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Total income rose by 19.11% to Rs 704.81 crore in Q2 September 2019 as compared to Rs 591.70 crore in Q2 September 2018.

Equitas Small Finance Bank's profit after tax (PAT) was down by 2.26% to Rs 47.6 crore in Q2 FY20 as compared to Rs 48.7 crore in Q2 FY19, impacted by deferred tax asset (DTA) write down of Rs 24.5 crore due to changes in corporate tax rate.

Net interest income (NII) of the small finance bank grew by 29% year-on-year (YoY) to Rs 350.5 crore while the net interest margin (NIM) stood at 8.83% in Q2 September 2019 as compared to Q2 September 2018.

Cost to income ratio stood at 69.07% in Q2 FY20 as compared to 69.09% in Q2 FY19.

Provision coverage ratio of the bank stood at 44% as on 30 September 2019.

The ratio of gross NPAs to gross advances stood at 2.88% as on 30 September 2019 as against 2.75% as on 30 June 2019 and 3.36% as on 30 September 2018.

The ratio of net NPAs to net advances stood at 1.76% as on 30 September 2019 as against 1.70% as on 30 June 2019 and 2.18% as on 30 September 2018.

The small finance bank's advances grew 33% to Rs. 13,269 crore in Q2 September 2019 over Q2 September 2018. Unsecured lending, however, constituted 26% of total portfolio.

Equitas Small Finance Bank is a wholly owned subsidiary's Equitas Holdings.

Equitas Holdings is a core investment company. The activity of the company is making investment in subsidiary companies and providing loans to them.

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Net profit of Equitas Holdings declined 20.26% to Rs 41.26 crore in the quarter ended September 2019 as against Rs 51.74 crore during the previous quarter ended September 2018. Sales rose 22.48% to Rs 696.74 crore in the quarter ended September 2019 as against Rs 568.85 crore during the previous quarter ended September 2018.

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