Capital Small Finance Bank Q3 Profit Up 18% to Rs 34 cr

Mumbai, Jan 29 (PTI) Capital Small Finance Bank on Wednesday reported a profit after tax of Rs 34 crore in the December quarter, registering an increase of 18 per cent year-on-year.

Gross advances of Capital Small Finance Bank -- the country's first small finance bank (SFB) -- increased 19 per cent year-on-year to Rs 6,816 crore, with more than 99 per cent being secured and zero direct MFI exposure, the bank said, while announcing the financial results for the December quarter.

Deposits increased 12 per cent year-on-year to Rs 8,384 crore in the October-December period, with 93.2 per cent being the retail deposit.

The Jalandhar-headquartered bank also reported gross NPA and net NPA of 2.67 per cent and 1.35 per cent, respectively, during the quarter against 2.97 per cent and 1.53 per cent in the year-ago period.

Capital Small Finance Bank Ltd started operations as India's first SFB on April 24, 2016 after conversion from Capital Local Area Bank.

Prior to conversion to an SFB, Capital Local Area Bank used to operate as India's largest local area bank since January 14, 2000.