External broker reports(aggregated public sources), Emkay Global Financial Services Limited

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External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Equitas Small Finance Bank  / Equity Bottom-Up

Equitas Small Finance Bank  (EQUITASB IN)

<ul><li>Emkay Global Financial's research report onEquitas Small Finance Bank Equitas SFB continues to report subdued credit growth at 20% YoY mainly due to slower growth in the new CV and NBFC segments, which coupled with elevated funding cost has led to further deterioration in NIM by 20bps QoQ to 8.2%.</li><li>However, higher other income led to a 4% beat on PAT at Rs2.1bn/1.9% RoA.</li><li>The bank has made one-off additional provisions (Rs110mn) due to recognition of co-borrower as NPA, and ESOPs (Rs220mn), while reverse retirement provisions are to the tune of Rs80mn, adjusted for which PAT would have been higher at Rs2.3bn/RoA at 2.15%.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Emkay Global Financial's research report onEquitas Small Finance Bank Equitas SFB continues to report subdued credit growth at 20% YoY mainly due to slower growth in the new CV and NBFC segments, which coupled with elevated funding cost has led to further deterioration in NIM by 20bps QoQ to 8.2%.However, higher other income led to a 4% beat on PAT at Rs2.1bn/1.9% RoA.The bank has made one-off additional provisions (Rs110mn) due to recognition of co-borrower as NPA, and ESOPs (Rs220mn), while reverse retirement provisions are to the tune of Rs80mn, adjusted for which PAT would have been higher at Rs2.3bn/RoA at 2.15%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equitas Small Finance Bank - Asset Quality, Margins Remain an Irritant