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Bank sectorBreaking NewsGeneralPublic Interest

CAPITAL SMALL FINANCE BANK NET PROFIT INCREASES BY 64.66 % Y-o-Y IN Q1-FY 24

National, August 14 2023: Capital Small Finance Bank Limited, India’s first small finance bank to commence operation in 2016 announced its un-audited financial for the quarter ended June 2023. Total business has increased by by 15.58 % Y-o-Y to Rs. 12,584 crore, driven by growth in gross advances and deposits.
Mr. Sarvjit Singh Samra, MD & CEO of Capital Small Finance Bank said, “Our team’s dedication and expertise, the trust bestowed upon us by our esteemed customers, and our unwavering commitment towards our stakeholders, are all mirrored in our financial achievements.. We are proud to report robust profits, which underscore the resilience of our business model and the effectiveness of our strategic initiatives. As we continue to navigate an ever-evolving financial landscape, we remain focused on sustaining this positive momentum and creating long-term value for our stakeholders.”
Key Highlights: Financial Year – 2023 Vs 2024
Operational Highlight:
• Total Business increased by 15.58% to Rs. 12,584 crore in Q1-FY’24 from Rs. 10,888 crore in Q1-FY’23
– Deposit increased by 14.64% to Rs. 7,064 crore in Q1-FY’24 from Rs. 6,162 crore in Q1-FY’23
– Gross Advances increases by 16.81% to Rs. 5,519 crore in Q1-FY’24 from Rs. 4,725 crore in Q1-FY’23.
• Total Net Worth increased by 28.81% to Rs. 691 crore in Q1 FY-‘24 from Rs. 536 crore in Q1-FY’23.
• CASA is 40.04% in Q1-FY’24
Financial Highlights:
• Net Total Income from Operations increased by 24.17 % Y-o-Y to Rs. 202 crore in Q1-FY’24 from Rs. 163 crore in Q1-FY’23.
• Profit after Tax increased by 64.66 % to Rs. 30+ crores in Q1-FY24 compared to Rs. 18+ crores Q1-FY23.
• Earnings per share increased by 63.36 % to Rs. 8.74 in Q1-FY’24 compare to Rs. 5.35 in Q1-FY’23.

Asset Quality and Capital:
• Capital Adequacy Ratio has increased to 20.81% in Q1-FY’24 compared to 19.51% in Q1-FY’23.
• Gross NPA and Net NPA of 2.81% and 1.37% respectively in Q1-FY’24.
• Return on Assets increased to 1.43% and Return on Equity increased to 18.50% in Q1 FY’24.
The Bank offers a range of banking products on the asset and liability side. Its asset products primarily include agriculture loans, MSME and trading loans (working capital, machinery loans etc.) and mortgages (housing loans). It targets to be the primary banker to its customers and endeavour to achieve this objective through a mix of (i) suite of our product offerings; (ii) customer service orientation; (iii) deeply entrenched physical branch network; and (iv) evolving digital channels of service delivery.
About Capital Small Finance Bank (www.capitalbank.co.in)

Capital Small Finance Bank (CAPITAL SFB) is a bank headquartered at Jalandhar, Punjab, India. Capital Small Finance Bank Limited started operations as India’s 1st Small Finance Bank on April 24, 2016 after conversion from Capital Local Area Bank. Prior to conversion to a Small Finance Bank, Capital Local Area Bank was operating as India’s largest local area bank since January 14, 2000. The core strategy of the bank is to build a retail focused banking franchise by enabling access for middle income group customers to affordable credit in the states Bank operates, diversified & secured advance portfolio, retail focused liability franchise and customer centric business model.

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