The same is subject to the approval of the shareholders of the bank and other regulatory and statutory approvals, as may be required, it said.
The board has also constituted and authorised the capital raising committee to decide the terms and conditions of the proposed fund raise, the company said.
Equitas Small Finance Bank’s fourth quarter net profit declined to ₹42.1 crore from ₹207.6 crore in the year-ago period.
However, its net interest income for the March quarter increased 5% from the previous year to ₹829.5 crore.
The lender’s gross non-performing assets (GNPA) ratio improved to 2.89% from 2.97% in the previous quarter, while its net non-performing assets ratio increased marginally to 0.98% from 0.96%. The total value of gross NPAs was at ₹1,067.7 crore, which was slightly lower than the ₹1,071.9 crore it reported in the preceding quarter.
The bank’s capital adequacy ratio was at 23.1%, and its liquidity coverage ratio was maintained at 120%.
Shares of Equitas Small Finance Bank Ltd were trading 0.83% down at ₹63.07 apiece at 2.55 pm on Friday, May 30. The stock has declined 5.8% in the past month.
Also Read: Equitas SFB Q4 Results: Net profit declines 80% YoY to ₹42 crore as expenses rise
