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**Financial Highlights:**
Equitas reported total advances of ₹37,986 Cr, marking an 11% YoY increase, while total deposits rose 19% YoY to ₹43,107 Cr. PAT for the quarter fell to ₹42 Cr from ₹208 Cr, primarily due to a decline in NIM to 7.13% and a GNPA ratio of 2.89%. The bank's CRAR is at 20.60% with a Tier I ratio of 17.84%.
**Strategic Initiatives & Growth Drivers:**
The bank is enhancing its digital loan origination via its Selfe app and plans to introduce personal loans and credit cards to boost customer retention. Efforts to improve customer engagement are evident in the revamped mobile banking platform and a new enterprise CRM system.
**Business Developments:**
Equitas launched a credit card product and expanded its vehicle finance portfolio, particularly in the used segment, witnessing a 53% YoY increase in used car advances. The bank continues to focus on microfinance, with steady placements of new loans in this area.
**Market Position & Competitive Advantage:**
Equitas holds a robust position in the small business loans segment, which accounts for 43% of its total advances. The bank's technology-driven approach enhances personalized customer experiences, boosting overall engagement and loyalty.
**Investor Implications:**
While growth metrics have slowed, the bank's focus on digital transformation and product diversification indicates positive growth potential. Investors should keep an eye on execution risk as Equitas navigates this transitional period while seeking profitability enhancements in FY26.