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Equitas Small Finance Bank Limited appoints Mr. Manish Agrawal as President – Finance

Newsmantra — Thu, 06 Nov 2025 12:21:41 +0000

Chennai, November 05, 2025:Equitas Small Finance Bank Limited (ESFBL), one of the largest Small Finance Banks in India, is pleased to announce the appointment of Mr. Manish Agrawal as President – Finance. Mr. Agrawal is a Chartered Accountant with over 27 years of post-qualification experience, including two decades in the banking sector. He brings deep expertise in finance function including IT initiatives.
Mr. Agrawal will focus on strengthening the Bank’s financial stewardship, enhancing the financial strategy, governance and reporting. His expertise will be pivotal in supporting the Bank’s long-term growth and digital transformation agenda.

Commenting on the appointment, Mr. Vasudevan P N, MD & CEO of Equitas Small Finance Bank Limited, said, “We are delighted to welcome Mr. Manish Agrawal to our leadership team. His extensive experience in finance, strategic planning, and regulatory compliance will be a valuable asset as we continue to build a robust, technology-driven and customer-centric banking operation. His deep understanding of the banking ecosystem and proven leadership in driving financial transformations align perfectly with the vision and mission of Equitas Small Finance Bank.”

Mr. Manish Agrawal’s expertise includes proficiency in Financial Reporting, Financial controls, Management Reporting, Regulatory Reporting, Budgeting, IT initiatives, etc., both at Standalone and Group Consolidated level. Prior to joining Equitas, he was associated with Kotak Mahindra Bank as the Head of Bank Finance Function (Bank & Consolidated group). He had also worked earlier with ING Vysya Bank and PwC. His strategic acumen, analytical depth, and people-first approach, has successfully led teams through finance transformation across complex banking environments.

Mr. Agrawal’s appointment reflects Equitas Small Finance Bank’s commitment to strengthening its digital, financial and operational excellence while maintaining its commitment to customer-centric financial services. The bank looks forward to leveraging his expertise to accelerate its growth trajectory and its position as a trusted and progressive financial institution.

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EQUITAS SMALL FINANCE BANK LIMITED

Newsmantra — Tue, 12 Aug 2025 05:36:53 +0000

Chennai, August 11, 2025 : The Board of Directors of Equitas Small Finance Bank Limited at its meeting held today, approved the unaudited financial results for quarter ended June 30, 2025.

Advances grew by 8% YoY supported by 18% growth in Non-MFI advances

Deposits grew by 18% YoY; Growth in Retail TD of 20% YoY

Bank made one time additional provisions of Rs. 330 Crs during the quarter, resulting in PAT miss

Key Highlights for Q1FY26:

Secured loan advances forms 91% of the total advances of the Bank
Gross Advances growth remained muted at 8% YoY and flat QoQ as Microfinance loan book contracts. Non Microfinance book grew 18% YoY, led by 22% growth in SBL over previous year.
Overall deposits registered a growth of 18% YoY & 3% QoQ

Business Highlights:

Vehicle Finance portfolio has crossed Rs. 9500 Crs during the quarter.
Used Car Advances crossed Rs. 2000 Crs, registered a growth of 50% YoY.
Used CV Advances registered a growth of 26% YoY
CASA ratio stable at 29%; CA balances grew 92%
Retail Term Deposits posted a growth of 20% YoY to Rs. 19,354 Crs

Key Ratios:

NIM for the quarter stood at 6.55%
Cost to Income stood at 70.62% in Q1FY26 as compared to 70.28% in Q4FY25 and 65.75% in Q1FY25

Capital:

Networth of the Bank stands at Rs. 5,849 Crs
As of June 30, 2025, Total CRAR at 20.48% | Tier I at 17.16% and Tier II at 3.32%
Tier II capital raised of Rs. 500 Cr in July ’25, improving CAR further by about 1.7%

Treasury & Liquidity:

The Bank’s Certificate of Deposit (CD) programme has highest rating at A1+ from India Ratings, CareEdge Ratings & CRISIL
Liquidity Coverage Ratio (LCR) as on 30.06.2025 is 209.5%
Profit on sale of Investments for the quarter is Rs. 116 Crs

Profit & Loss:

Net Income and Total Opex grew by 8% and 16% YoY in Q1FY26
The Bank has made Additional Standard Asset Provision (One-time Impact) of Rs.185 Crs in Microfinance and Rs.145 Crs for Additional NPA Provision due to change in Provisioning norms, resulting in a Loss of Rs. 224 Cr for the quarter

Asset Quality:
- GNPA improved by 7 bps QoQ to 2.82% in Q1FY26 as compared to 2.89% in Q4FY25
- NNPA improved by 3 bps QoQ to 0.95% in Q1FY26 as compared to 0.98% in Q4FY25

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Equitas Small Finance Bank Launches FCNR Deposits and Explorer Savings Account for NRIs and Seafarers

Newsmantra — Tue, 22 Jul 2025 11:09:19 +0000

Exclusive offerings tailored for India’s global diaspora and maritime professionals with enhanced accessibility, security, and financial benefits FCNR-B Deposits for Tax-Free, Fully Repatriable Wealth Management

Mumbai/Chennai, July 22 2025: Equitas Small Finance Bank, one of India’s largest SFBs, has announced the launch of its Foreign Currency Non-Resident FCNR (B) Deposit and the Equitas Explorer Savings Account—two specialized offerings tailored to meet the evolving financial needs of Non-Resident Indians (NRIs) and seafarers respectively. With over 2,85,454 Indian seafarers and maritime professionals working across international waters (as per the Directorate General of Shipping, 2023) and more than 35.4 million NRIs worldwide , this dual product launch reflects Equitas SFB’s commitment to delivering flexible, secure, and tech-enabled banking solutions for India’s expanding global workforce.

Hedging currency is a fundamental need for most NRIs, and holding savings in dollars is a smart way to preserve and grow wealth across borders—especially by securing favorable exchange rates. The bank’s FCNR (B) Deposit—currently available in USD—offering NRIs a robust wealth management tool designed to grow global earnings with ease. FCNR (B) provides rewarding interest rates, tax-free interest income on earnings in India, and full repatriation of both principal and interest. With no foreign exchange risk, hassle-free renewals, and the ability to maximize FCNR earnings, Equitas FCNR (B) Deposit ensure seamless wealth growth for global customers—without compromising on convenience, security, or regulatory compliance.

The bank has launched the Equitas Explorer Savings Account—a specially designed banking solution for NRIs and Persons of Indian Origin (PIOs) working in foreign shipping companies, merchant navy, and oil rigs. Available in both Non-Resident External (NRE) and Non-Resident Ordinary (NRO) variants, this account caters to the unique needs of seafarers with features such as a International VISA Platinum Debit Card (NRE), ₹1 crore air accidental death insurance cover, home contents insurance up to ₹2 lakhs against burglary and fire, and mandate holder facility for close resident relatives in India. Customers can also enjoy attractive rates on inward/outward remittances and a 25% discount on annual locker rentals. With a simplified documentation process—including passport, visa or Continuous Discharge Certificate (CDC), and merchant navy declarations—individuals can open an Explorer Account by maintaining either an Average Monthly Balance (AMB) of ₹1 lakh or a Total Relationship Value (TRV) of ₹10 lakhs.

“At Equitas, we understand the unique challenges faced by the seafaring and global NRI community in managing their finances while constantly on the move,” said Murali Vaidyanathan, Senior President & Country Head – Branch Banking – Liabilities, Products & Wealth, Equitas SFB. “With the Equitas Explorer Savings Account and FCNR (B) Deposit, we are offering a world-class banking experience that is borderless, benefit-rich, and built entirely around the customer’s life journey. These solutions reflect our mission to empower underserved and niche segments with innovative, need-based products.”

The introduction of financial products catering specifically to this cohort reflects Equitas SFB’s focus on customer-first innovation and its commitment to financial inclusion for all Indians—wherever they are. With these launches, Equitas SFB continues to expand its footprint in niche banking, offering tailored solutions through a mix of technology, personalization, and product innovation.

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