Equitas Small Finance Bank Ltd Q3 FY26 Results

Summary

Equitas Small Finance Bank reported a 36% YoY growth in Profit After Tax for the quarter and nine months ended December 31, 2025. Gross Advances grew by 16% YoY and 11% QoQ, Disbursements grew by 28% YoY & 22% QoQ, and Deposits grew by 7% YoY. The Bank's Certificate of Deposit (CD) programme has the highest rating at A1+ from India Ratings, CareEdge Ratings & CRISIL. The Bank reported a PAT of Rs.90 crs, a growth of 36% YoY & 273% QoQ.

Key Highlights

1. 1

   Gross Advances grew by 16% YoY and 11% QoQ

2. 2

   Non Microfinance book grew 19% YoY, led by 17% growth in HF, 35% in MSE and 110% in Gold over previous year, respectively

3. 3

   Overall deposits registered a growth of 7% YoY

4. 4

   Highest ever overall Disbursements at Rs. 6557 crs in Q3FY26, a growth of 28% YoY & 22% QoQ

5. 5

   Our Flagship product SBL book grew by 14% YoY

6. 6

   Secured BL, a part of SBL (Small Business Loans), has grown 22% YoY contributing 32% of the overall SBL portfolio

7. 7

   Used Car and Used CV Advances have registered a growth of 36% YoY and 23% YoQ, respectively

8. 8

   NIM for the quarter stood at 6.72%, significantly improved by ~43 bps QoQ

9. 9

   Cost to Income stood at 72.96% in Q3FY26 as compared to 75.89% in Q2FY26 and 68.30% in Q3FY25

10. 10

    Net Income grew by 8% YoY and 14% QoQ and Total Opex grew by 16% YoY and 9% QoQ

11. 11

    GNPA reduced by 20 bps QoQ at 2.62% in Q3FY26 as compared to 2.82% in Q2FY26

12. 12

    NNPA reduced by 7 bps QoQ to 0.88% in Q3FY26 as compared to 0.95% in Q2FY26

13. 13

    Credit Cost has reduced to 1.88% in Q3FY26 as compared to 2.16% in Q2FY26 and 2.65% in Q3FY25

14. 14

    Net Slippages reduced by 126 bps QoQ to 2.52% in Q3FY26 as compared to 3.78% in Q2FY26