Equitas Small Finance Bank Sees Surge in Total Deposits, Despite CASA Downturn
Equitas Small Finance Bank has witnessed a significant boost in its total deposits, reaching ₹40,738 crore, which represents a 2.21% growth on a quarter-on-quarter (QoQ) basis and an impressive 25.79% year-on-year (YoY) increase. This growth in deposits is a testament to the bank's expanding customer base and its ability to attract new depositors. However, the bank's Current Account Savings Account (CASA) deposits have taken a hit, declining from the previous quarter. The bank's ability to maintain a healthy deposit growth rate is crucial for its future expansion plans and will be closely watched by investors and analysts. In the competitive banking sector, Equitas Small Finance Bank's performance is a significant indicator of the overall health of the small finance bank industry in India, with key trends including digital banking, financial inclusion, and microfinance playing a vital role in shaping the sector's future.
