It has been a weak showing from Equitas Small Finance Bank for the March-ended quarter. Slippages and write-offs remained elevated for the company and the loan growth rate has declined for the second quarter in a row.
PN Vasudevan, MD & CEO of Equitas Small Finance Bank, in an interview with CNBC-TV18, said the collection efficiency was strong in Q4.
“The last (Q4FY21) quarter was good because the collections did come back strongly and people are paying their overdue as well, which shows that people who have been paying and do not have an overdue, they are able to pay and there is hardly any additional stress getting created out of that bucket,” he said.
“We do not see much of stress coming from the rest of the book, basically the microfinance and even that was coming back to a good level of normalcy in the month of March, but what is happening currently (the COVID-19 wave) is again opening up a lot of doubts in everybody’s mind, so we do not know what the picture will emerge over the next 2-3 months,” said Vasudevan.
For entire management interview, watch the video