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The Hindu

ESAF Bank’s Q4 net profit increases 144%

ESAF Small Finance Bank posted 143.93 % increase in net profit to ₹105.60 crore for the fourth quarter ended March 31, 2022. It was ₹43.29 crore during the same period a year ago.

The annual Net Profit of the bank for the fiscal ended March 31, 2022, is ₹54.73 crore. The operating profit during the January-March quarter increased by 174.99% to ₹158.09 crore against ₹57.49 crore in the same period of the previous year.

Total business increased by 44.36 % to ₹25,156 crore, compared to ₹17,425 crore in the previous fiscal. The operating profit for the fiscal increased by 17.96% to ₹491.84 crore from ₹416.98 crore despite the challenges during the year on account of the pandemic.

Commenting on the results, K. Paul Thomas, MD & CEO, ESAF Small Finance Bank, said: "The overall performance during the financial year was commendable and we as a bank could continue to serve our valued customers better in the difficult times."