Total deposits grew 36% year on year (YoY) and 9% quarter on quarter (QoQ) to Rs 27,709 crore as on 30 June 2023.

During the quarter, CASA deposits stood at Rs 10,642 crore, up 1% YoY while down 1% QoQ. CASA ratio was at 38% as on 30 June 2023 as compared to 42% as on 31 March 2023 and 52% as on 30 June 2022.

Cost of funds stood at 6.94% in Q1 FY24 from 6.61% in Q4 FY23 and 6.20% in Q1 FY23.

Equitas Small Finance Bank offers products and services to meet the needs of individuals with limited access to formal financing channels, as well as affluent and mass affluent, small & medium enterprises (SMEs) and corporates.

The bank reported 32% jump in net profit to Rs 922 crore on a 28% increase in net interest income to Rs 707 crore in Q4 FY23 as compared with Q4 FY22.

The scrip rose 0.04% to currently trade at Rs 91.21 on the BSE.