The total business (i.e. deposits and gross advances) of ESAF Small Finance Bank Limited amounted to Rs. 25,019 crore as of March 31, 2022, up 43.67 per cent from Rs 17,414 crore as of March 31, 2021, with both deposits and gross advances showing a positive trend.
Total deposits increased by 42.41 per cent to Rs. 12,816 crore as of March 31, 2022, compared to Rs 8,999 crore as of March 31, 2021, with savings deposits increasing by 69.88 per cent and term deposits increasing by 36.35 per cent. Demand deposits and savings bank deposits (CASA) registered a growth of 67.60 per cent. The CASA ratio as of March 31, 2022, stood at 22.85 per cent against 19.41 per cent as of March 31, 2021.
Gross advances increased by 45.01 per cent to Rs. 12,203 crore as of March 31, 2022, compared to Rs. 8,415 crore as of March 31, 2021. Despite the continuing effects of the COVID-19 pandemic on business, gross micro banking advances rose by 42.60 per cent and other advances rose by 58.48 per cent. Assets Under Management as of March 31, 2022, increased by 47.32 per cent compared to that as of March 31, 2021.
Micro Loans collection efficiency (before adjustments with respect to collections due towards arrear demands and amount collected in advance) calculated as a percentage of the total collections including arrears and collected in advance made in March 2022, to the total amount due for collection for the month of March 2022, stood at 149.09%.
MicroLoan collection efficiency (after adjustments with respect to collections due toward arrear demands and amount collected in advance) which is calculated as a percentage of the total collections for March 2022 after adjustments with respect to collections due towards arrear demands and amount collected in advance to the total amount due for collection for the month of March stood at 81.56%.
“We believe that the resilience of the rural economy and Government’s focus on financial inclusion amidst COVID is one of the key factors that worked in our favour,” K. Paul Thomas, Managing Director and CEO said.
The financial information as of and for the year ended March 31, 2022, is provisional and is subject to an audit by the statutory auditors of the ESAF Small Finance Bank Limited. As of March 31, 2022, ESAF Small Finance Bank Limited was operating in 23 states including two union territories across India through 575 banking outlets.
