Latest news with #ESAFSmallFinanceBank
Time of India
a day ago
- Time of India
37-year-old arrested for stealing Rs 40 lakh from bank employee in Kozhikode
Kozhikode: A 37-year-old man has been arrested for allegedly stealing a bag containing Rs 40 lakh from a bank employee at Pantheerankavu in Kozhikode. Police arrested M Shibin Lal, a resident of Kaipalam, from Palakkad on Friday. The incident occurred last Wednesday outside Akshaya Financiers, a private financial firm, in Pantheerankavu, where Shibin snatched a bag containing the money from a staff member of ESAF Small Finance Bank and fled on a scooter. Shibin had approached the ESAF bank branch seeking money to reclaim gold pledged at another financial institution. After opening an account at the bank, the employee came to Pantheerankavu with the requested cash. As soon the bank employee stepped out of the car, the accused snatched the cash from them and fled on a scooter parked nearby at 1.30pm. Police had found that the accused had fabricated the story of him having pledged gold and had misled the bank employee using forged documents. According to police sources, efforts were on to recover the stolen money. Based on CCTV footage and mobile tower locations, police found that he had travelled from Thrissur to Palakkad. He was nabbed by a team led by Pantheerankavu SHO K Shaju and SI R Prashanth. During interrogation, the accused claimed that the bag contained only Rs 1 lakh. Police recovered Rs 55,000 and three mobile phones from him at the time of arrest. Police suspect he may have handed over the remaining money to someone else. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Business Upturn
3 days ago
- Business
- Business Upturn
ESAF Small Finance Bank Selects Kyndryl to Power Its IT Transformation and Digital Banking
About ESAF Small Finance Bank ESAF Small Finance Bank began its operations in 2017 with a strong focus on promoting social and financial inclusion. The Bank serves the underserved and unserved—especially women, micro-entrepreneurs, and rural communities—through a community-centric approach that combines technology with deep local insights. Guided by the values of People, Planet, and Prosperity, ESAF champions sustainable development by reinvesting a share of its profits into impactful social initiatives. As of March 2025, it operates 787 branches, 693 ATMs, and 1,106 Customer Service Centres across 24 states and two union territories. ESAF's journey is backed by a 33-year legacy, rooted in its origins as a mission-driven NGO founded in 1992. About Kyndryl Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world's largest IT infrastructure services provider, the company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit Click here for Media Contact Details Submit your press release Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Business Standard
17-05-2025
- Business
- Business Standard
ESAF Small Finance Bank reports standalone net loss of Rs 183.19 crore in the March 2025 quarter
Total Operating Income decline 10.83% to Rs 893.44 crore Net loss of ESAF Small Finance Bank reported to Rs 183.19 crore in the quarter ended March 2025 as against net profit of Rs 43.35 crore during the previous quarter ended March 2024. Total Operating Income declined 10.83% to Rs 893.44 crore in the quarter ended March 2025 as against Rs 1002.00 crore during the previous quarter ended March 2024. For the full year,net loss reported to Rs 521.39 crore in the year ended March 2025 as against net profit of Rs 425.57 crore during the previous year ended March 2024. Total Operating Income rose 1.14% to Rs 3862.22 crore in the year ended March 2025 as against Rs 3818.53 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Total Operating Income 893.441002.00 -11 3862.223818.53 1 OPM % 8.2231.93 - 18.3541.31 - PBDT -240.8458.53 PL -634.97570.41 PL PBT -240.8458.53 PL -634.97570.41 PL NP -183.1943.35 PL -521.39425.57 PL
Time of India
16-05-2025
- Business
- Time of India
ESAF Small Finance Bank ends FY25 with a net loss
ESAF Small Finance Bank has suffered a net loss for the third quarter in a row as the asset quality stress in its microfinance portfolio deepened. The bank reported a loss of Rs 183 crore for the fourth quarter of the last fiscal as compared with a loss of Rs 211 crore and Rs 190 crore in the preceding quarters. It earned a net profit of Rs 43.4 crore in the year ago period. Its pre-provision operating profit stood 68% lower at Rs 91 crore against Rs 285 crore in the year-ago quarter as total income declined 10% at Rs 1037 crore as compared with Rs 1152 crore. At the same time expenditure rose 9% at Rs 946 crore over Rs 867 crore. The bank ended the fiscal 2024-25 with an annual loss of Rs 521 crore as compared with a net profit of Rs 426 crore in the preceding fiscal. Operating profit for the full year stood sharply lower at Rs 615 crore against Rs 1163 crore. The lender ended the fiscal with a gross non-performing assets ratio of 6.87%, marginally down from 6.96% three months back while it was sharply higher from 4.76% seen a year back. Live Events ESAF's capital adequacy ratio stood at 21.84%, well above the minimum regulatory stipulation.
