About Equitas Small Finance Bank Limited

Equitas Small Finance Bank Limited (ESFB) was established with the mission of delivering credit and financial services tailored to the underserved and unserved communities of India. The Bank’s journey began in 2007 with microfinance operations through Equitas Micro Finance India Private Limited, followed by the creation of Equitas Finance Limited and Equitas Housing Finance Limited. These three entities were later merged, leading to the commencement of operations as a Small Finance Bank in 2016 upon receiving final approval from the Reserve Bank of India (RBI).

Over time, the Bank has diversified into a broad product portfolio, encompassing small business loans, vehicle loans, affordable housing loans, microfinance, loans to MSMEs, personal loans, gold loans, and credit cards. Beyond lending, ESFB offers non-credit services such as savings and current accounts, insurance distribution, mutual funds investment platform, lockers, and FASTags. Its customer base spans informal, semi-formal, and formal sectors, including individuals with limited access to traditional finance, as well as affluent, mass-affluent, SME, and corporate segments.With more than 994 banking outlets across India, ESFB’s geographical footprint covers urban, semi-urban, and rural regions, strengthening its inclusive approach. 

Equitas Small Finance Bank Limited Milestone

Key milestones include crossing Rs 100 billion in deposits (2019), completing its IPO (2020), launching new products such as digital savings accounts and “Selfe Loans”, and crossing Rs 500 billion in balance sheet size in 2025.

Equitas Small Finance Bank Business Segments

For the year ended March 31, 2024, the Bank’s revenue composition was as follows:

• Treasury: 10.7%

• Retail Banking: 85.8%

• Corporate/Wholesale Banking: 1.6%

• Other Banking Business: 1.9%

Equitas Small Finance Bank Key Management

• Mr. Vasudevan P N – Managing Director & Chief Executive Officer

• Mr. Balaji Nuthalapadi – Executive Director (effective March 29, 2025)

• Mr. N Ramanathan – Company Secretary
  

Latest Updates on Equitas Small Finance Bank

• Launch of new retail offerings such as credit cards and personal loans, strengthening the Bank’s retail-focused portfolio.

• Approval for raising up to Rs 1,000 crore through the issue of redeemable unsecured non-convertible debentures and bonds to augment Tier-II capital and support general corporate purposes.

• Appointment of M/s. Shanmugam Rajendran & Associates LLP as Secretarial Auditor for FY 2025-26 to FY 2029-30.

• Re-appointment of Mr. Ramesh Rangan as Independent Director for a further term from November 2025 to November 2028.

• Strengthening governance with revised remuneration structure for MD & CEO, aligned with RBI guidelines.