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CAPITAL SMALL FINANCE BANK NET PROFIT UP 53.19% y-o-y in Q2FY23

Mumbai, October 20, 2022: Capital Small Finance Bank Limited, India’s first small finance bank to commence operation in 2016 announced its unaudited Q2-FY 2023 result.
Quarterly Result Performance: Q2-FY 2023 Vs Q1- FY 2023
– Capital Small Finance Bank reported a 53.19% year-on-year increase in net profit in Q2FY23 and stood at Rs 22.81 crore for the quarter ended September 2022 compared to Rs 14.89 crore during the same period last year.
– The gross advances has increased by 23.22% year-on-year basis to Rs. 5192.73 crore. The growth is owing to increase in mortgage, MSME & retail trader and agriculture loans. The Bank continued the emphasis on secured lending and secured lending is ~99%.
– The Bank’s networth stood at Rs 556.51 crore in Q2FY23 compared to Rs 477.16 crore in Q2FY22.
– Total income from operations increased by 14.05% year-on-year to Rs 179.9 crore for Q2FY23 compared to Rs 157.74 crore during the Q2FY22.
– Total deposits increased to Rs 6184.6 crore in the quarter-ended September 2022 and CASA constituted healthy 41.56% of the total deposits.
Net non-performing assets as a percentage of total assets stood at 1.35% for the quarter ended September 2022. CSFB’s return on assets (RoA) came in at a healthy 1.22% for the quarter ended September 2022, and at 1.10% for the half-year ended September 2022. The bank’s return on equity (RoE) stood at 17.02% for the quarter ended September 2022, and at 15.33% for the half year ended September 2022. The bank’s earnings per share (diluted) stood at Rs 6.63 for the quarter ended September 2022 compared to Rs 4.35 during the same period last year.
During this period, advance book has grown by 23.33% (Y-o-Y) to ₹5192.73 crores and CASA has grown by ~16% to ₹2,570 crores. Despite the macro economic challenges represented by liquidity tightening, increasing inflation, the Bank has been able to continue improvement in the profitability matrix, thereby PAT has grown by 53% to ₹22.81 crores during Q2FY23 against ₹14.89 crores during Q2FY22 and ROE has improved to 17.02%. Further, the Bank continue to demonstrate better asset quality of the portfolio and Net NPA stood at 1.35% as on September 30, 2022.”
The Company has an experience of over two decades in the banking industry having operated as the largest local area bank prior to its conversion into a small finance bank. It is one out of the two non-NBFC microfinance entity to receive the SFB license in 2015. Its core strategy is to build a robust retail focused banking franchise by enabling access to affordable credit in the states Bank operates, with special emphasis on rural and semi-urban areas. The Bank focus primarily on the middle-income customer segments i.e., customers with an average annual income of Rs. 0.4 million to Rs. 5 million. (Source: CRISIL Research Report)

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