Equitas Small Finance Bank Sees Surge in Total Deposits, Despite CASA Decline
Equitas Small Finance Bank has reported a significant increase in 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) expansion. This growth is a testament to the bank's efforts to strengthen its financial position and improve its deposit base. However, the decline in Current Account and Savings Account (CASA) deposits is a concern that the bank needs to address. Despite this, the overall growth in deposits is a positive sign for the bank's business, and it is expected to drive growth in the banking sector. With a strong focus on digital banking and customer service, Equitas Small Finance Bank is well-positioned to capitalize on the growing demand for financial services in India. The bank's deposit growth is also expected to boost its liquidity and support its lending activities, making it an attractive option for investors. Key trends in the banking sector, such as digital payments and mobile banking, are also expected to drive growth for Equitas Small Finance Bank.
