ESAF Bank posts Rs50.4 cr profit for Q3

THRISSUR: ESAF Bank, the first bank in the state to have received a banking licence after independence, has posted a net profit of Rs50.38 crore for the third quarter ending December 31  2018, compared with a loss of Rs16.45 crore the bank posted for the same period last year. The bank had posted Rs26.99 profit for the full year ended March 31, 2018.

While the interest earned by the bank for the quarter under review was Rs738.75 crore compared with Rs402 crore for the same period last year, the other income for the period was Rs84.17 crore compared with Rs68.62 crore for the same period last year.

The gross NPA for the quarter under review inched up from Rs154.74 crore to Rs158.79 crore. However, the gross NPA ratio dropped marginally from 4.59 per cent to 3.52 per cent during the quarter year on year, whereas the net NPA during the quarter nosedived from 3.56 per cent to 0.84 per cent year on year.

During the quarter, the capital adequacy ratio (CAR) jumped from 16.57 per cent to 26.01 per cent year on year maybe predominantly due to increase in equity base. However, the balance sheet of the bank has not been available in the public domain nor did the bank make it available for this portal.

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