Latest news with #EquitasSmallFinanceBank
Business Standard
3 days ago
- Business
- Business Standard
Board of Equitas Small Finance Bank approves QIP issue of Rs 1250 cr
At meeting held on 30 May 2025The Board of Equitas Small Finance Bank at its meeting held on 30 May 2025 has approved raising of funds by way of issuance of such number of equity shares or any other eligible securities and / or other securities convertible into equity shares including warrants, or otherwise (collectively Securities) for an aggregate amount not exceeding Rs.1,250/- crore by way of Qualified Institutions Placement (QIP) and / or through any other permissible mode, in one or more tranches. Powered by Capital Market - Live News
Business Standard
23-05-2025
- Business
- Business Standard
Equitas SFB board to mull fund raising on 30 May
Equitas Small Finance Bank said that its board is scheduled to meet on Friday, 30 May 2025, to consider a proposal for raising funds through various securities by different permissible modes. The company will raise capital by issuing and allotting such number of equity shares or any other eligible securities and / or other securities convertible into equity shares including warrants, or otherwise through public and/or private offerings in one or more tranches and /or by way of one or more qualified institutions placement, and / or preferential allotment and / or through any other permissible mode Equitas Small Finance Bank is one of the largest small finance banks in India. As a new-age bank, it offer a bouquet of products and services tailored to meet the needs of its customers , individuals with limited access to formal financing channels, as well as affluent and mass affluent, Small & Medium Enterprises (SMEs) and corporates. The companys standalone net profit declined 79.7% to Rs 42.11 crore despite a 10.9% increase in total income to Rs 1,869.42 crore in Q4 FY25 over Q4 FY24. The counter shed 0.37% to settle at Rs 64.31 on the BSE.
Business Standard
22-05-2025
- Business
- Business Standard
Board of Equitas Small Finance Bank to consider raising further capital
On 30 May 2025 The Board of Equitas Small Finance Bank will meet on 30 May 2025 has the proposal for raising further capital and to create, offer, issue and allot such number of equity shares or any other eligible securities and / or other securities convertible into equity shares including warrants, or otherwise (collectively Securities) through public and/or private offerings in one or more tranches and /or by way of one or more Qualified Institutions Placement, and / or preferential allotment and / or through any other permissible mode, in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and all other applicable laws, as may be considered appropriate, subject to statutory / regulatory and other approvals as may be required including the approval of the shareholders of the Bank.
Entrepreneur
14-05-2025
- Business
- Entrepreneur
Former India Post Payments Bank MD & CEO J Venkatramu Joins RevRag.AI as Evangelist
Venkatramu has previously held leadership roles at Equitas Small Finance Bank and Axis Bank, and is credited with leading some of India's most ambitious digital inclusion initiatives. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Bengaluru-based AI startup has announced the appointment of J Venkatramu, former MD and CEO of India Post Payments Bank, as Evangelist and Advisor. The strategic move is aimed at accelerating the startup's AI-led transformation in BFSI, Fintech, and Insurtech sectors. which builds intelligent Sales and Onboarding AI Agents, is working to solve last-mile conversion challenges for financial institutions. With over two decades of leadership in digital banking, mobile commerce, and financial inclusion, Venkatramu's appointment brings deep operational and strategic expertise. Ashutosh Singh, Co-founder and CEO of said, "What sets Venkat apart is his in-depth knowledge of digital solution adoption combined with a sharp product mindset. He understands both the frontline complexities and the boardroom decisions that drive financial innovation. His practitioner's lens helps sharpen our focus on solving real-world pain points." Venkatramu has previously held leadership roles at Equitas Small Finance Bank and Axis Bank, and is credited with leading some of India's most ambitious digital inclusion initiatives. Commenting on his new role, J Venkatramu said, "In my journey through banking and digital payments, I've seen how business intent often gets lost in execution. is addressing a fundamental gap — the disconnect between customer interest and business response. Their AI agents are more than automation tools; they are a new digital interface, enhancing productivity, bridging user divides, and boosting revenue. I see immense potential in deploying this intelligence at scale." This appointment follows the launch of Sophie, voice-led AI onboarding agent designed to reduce drop-offs during customer acquisition. By offering proactive and reactive guidance, Sophie streamlines onboarding in heavily regulated sectors. Backed by investors like Powerhouse Ventures, Kunal Shah (CRED), and Viral Bajaria (6Sense), continues to scale its AI solutions focused on revenue acceleration. With Venkatramu's guidance, the startup is poised to deepen its enterprise impact and transform financial engagement through AI.
Time of India
30-04-2025
- Business
- Time of India
Equitas Bank Q4 net profit plunges 80% amid rising credit costs
Equitas Small Finance Bank 's fourth-quarter net profit plunged 80% year-on-year to Rs 42 crore, down from Rs 208 crore in the year-ago period, due to sharply higher credit costs and muted earnings. The bank's net interest margin for the quarter stood at 7.13%, compared to 8.17% in the year-ago period, largely due to a reduction in the microfinance portfolio. "We are seeing sequential improvement in microfinance collections, indicating the asset quality cycle may turn positive by Q3FY26," the bank said in an investor presentation. Its gross non-performing assets (NPA) ratio stood at 2.89% at the end of March, compared with 2.97% three months earlier and 2.61% a year ago. The bank set aside Rs 258 crore as provisions and contingencies for the quarter, compared to Rs 107 crore in the year-ago period, reflecting rising credit costs. Gross slippages in microfinance loans remained elevated at 14.4%. The bank expects fresh delinquencies in microfinance to reduce as collections in Karnataka improve, though the impact of the Tamil Nadu debt collection bill remains uncertain. Pre-provision operating profit fell 17% year-on-year to Rs 311 crore. Net interest income rose a modest 5.5% year-on-year to Rs 829 crore, while other income saw a marginal dip to Rs 218 crore from Rs 222 crore. Total income rose 11% year-on-year to Rs 1,869 crore, while total expenditure increased 19% to Rs 1,558 crore. The bank stated that its expenditure on long-term strategic initiatives is in the final phase and it expects to benefit from these investments in the medium term. Gross advances grew 11% year-on-year to Rs 37,986 crore at the end of the fiscal year, with the non-microfinance book growing 19%. The bank is focusing on expanding its secured loan portfolio, such as microloans against property and used vehicle loans, which offer yields comparable to microfinance. Deposits rose 19% year-on-year to Rs 43,107 crore at the end of the fourth quarter.
