Equitas Holdings

License holder of the first small bank of India, it posted a very set of numbers for Q1FY17. Its consolidated NII for the quarter rose 52% (YoY) at Rs.190 crore. Total Income increased by 46% at Rs.349 crore while net profit was up 64% at Rs.61 crore.

Asset Under Management (AUM) as of June 30, 2016 grew 48% (YoY) to Rs.6,559 crore. The growth has been led by healthy disbursements in key focus asset products such as Microfinance, Used Commercial Vehicle finance [UCV] & Micro enterprise loans.

Loan outstanding portfolio as of June 16 grew by 48% on a YoY basis along with a 64% growth in profits for the quarter on a YoY basis.

The company’s Rs.2170 crore IPO was subscribed over 16 times and its issue price of Rs.110/share.  The company is hopeful of starting the small finance bank by September 2016.