ESAF Small Finance Bank reports Rs 130-crore net profit in H1

ESAF Small Finance Bank on Wednesday reported a net profit of Rs 130.42 crore for the first half of FY21, an increase of 41% from Rs 92.44 crore reported in the April-September period of 2019-20.

K Paul Thomas, MD and CEO, said: “The bank has performed well during the period and I believe the results show that micro entrepreneurs are in a recovery mode after the pandemic-induced slowdown…”

The Thrissur-based lender said gross NPAs as a percentage of gross advances decreased from 1.76% as on September 30, 2019 to 1.32% as on September 30, 2020 and net NPAs as a percentage of net advances declined from 0.62% to 0.19%.

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