Equitas Small Finance Bank Sees Significant Deposit Growth, Despite CASA Dip
Equitas Small Finance Bank has reported a substantial increase in total deposits, reaching ₹40,738 crore, which represents a 2.21% quarter-on-quarter (QoQ) growth and an impressive 25.79% year-on-year (YoY) surge. This notable growth in deposits is a testament to the bank's expanding customer base and improving financial health. The increase in deposits can be attributed to the bank's strategic initiatives and effective management, which have helped to strengthen its position in the market. Although the bank's Current Account Savings Account (CASA) deposits have declined, the overall deposit growth is a positive indicator of the bank's performance. With the Indian banking sector experiencing significant changes, Equitas Small Finance Bank's deposit growth is a significant achievement, driven by its focus on digital banking, customer satisfaction, and financial inclusion. The bank's efforts to enhance its digital infrastructure and provide innovative financial products have contributed to its growth, making it an attractive option for customers seeking convenient and reliable banking services. The growth in deposits is also expected to support the bank's lending activities, enabling it to cater to the credit needs of its customers, particularly in the microfinance and small business segments.
