The ESAF Small Finance Bank’s total business increased by 43.67 per cent to ₹25,019 crore from ₹17,414 crore as of March 31, 2021, with both deposits and gross advances showing a positive trend.
Total deposits increased by 42.41 per cent to ₹12,816 crore as of March 31, 2022, compared to ₹8,999 crore of the same period last year, it said in a statement.
Gross advances increased by 45.01 per cent to ₹12,203 crore compared to ₹8,415 crore as of March 31, 2021.
“We believe that the resilience of the rural economy and government’s focus on financial inclusion amidst Covid is one of the key factors that worked in our favour,” said K Paul Thomas, Managing Director and CEO, ESAF SFB.