Equitas Small Finance Bank Limited Company Profile: Products, Promoters and Clients

Equitas Small Finance Bank Limited Company Description:

Equitas Small Finance Bank Limited is a new-age bank that aims to transform the banking experience for individuals and businesses across India. Established as a microfinance company, Equitas has a legacy of enabling livelihoods and elevating lives. Today, as a small finance bank, Equitas is redefining the way banking is imagined, delivered, and experienced, with a focus on building trust with its customers. The bank is committed to providing accessible and innovative financial services while contributing to the betterment of society.

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Q1. What are the Product and service offerings of the company?

Equitas Small Finance Bank offers a diverse range of banking products and services catering to various customer segments. These include savings accounts, current accounts, term deposits, loan products such as microfinance, small business loans, vehicle finance, housing finance, and loans for micro and small enterprises. The bank also provides third-party products like life and general insurance, mutual funds, and demat accounts. Additionally, Equitas offers digital banking solutions, including mobile banking, internet banking, and payment services, enabling convenient and seamless banking experiences for its customers.

Q2. Who are the Promoters/Management of the company?

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Vasudevan Pathangi Narasimhan, the MD and CEO of the Bank, holds a bachelor's degree in physics from the University of Madras and is a qualified company secretary from the Institute of Company Secretaries of India. With extensive experience in financial services, he previously served as Executive Vice President and Head of Consumer Banking at Development Credit Bank Limited and spent nearly two decades at Cholamandalam Investment and Finance Company Limited, resigning as Vice President and Head of Vehicle Finance. He was also Chairman of the South India Hire Purchase Association's managing committee in 2006. Narasimhan joined the Bank on July 25, 2016, after serving as the Managing Director of EHL.

Sridharan Nanuiyer, the CFO of the Bank, holds a bachelor's degree in commerce from the University of Madras. He is a qualified chartered accountant from the Institute of Chartered Accountants of India and a certified cost and works accountant from the Institute of Cost and Works Accountants of India. He began his career with CMC Limited in 1986, leaving as Deputy General Manager of Finance and Internal Audit. Before joining the Bank, he served as General Manager of Finance at SRA Systems Limited and Vice President of MIS and Commercial Control at Subhiksha Trading Services Limited. Nanuiyer joined the Bank on August 16, 2010, previously being part of EHFL.

Murali Vaidyanathan, Senior President and Country Head of Branch Banking - Liabilities, Products & Wealth at Equitas Small Finance Bank Limited, has over 20 years of experience in strategic banking. He has driven product innovations and profitability, and previously worked with Kotak Mahindra Bank, ICICI Bank, and Citi Group. Known for his people and process-driven approach, he excels in customer-centric product design and market analysis. He holds certifications in investments, compliance, and operations, and completed General Management Programs from IIM Ahmedabad.

Q3. Who are the Clients of the company?

Equitas Small Finance Bank serves a wide range of clients across various segments and geographical locations. As of March 31, 2024, the bank's loan portfolio was diversified with 38% in small business loans, 24% in vehicle finance, 18% in microfinance and micro loans, 12% in housing finance, 3% in micro and small enterprise finance, and 2% in loans to non-banking financial companies (NBFCs). Geographically, the bank had a significant presence in Tamil Nadu and Puducherry, contributing 49% of its advances and 28% of its deposits. Other states with notable contributions include Maharashtra (15% of advances, 13% of deposits), Karnataka (12% of advances, 9% of deposits), Gujarat (5% of advances, 6% of deposits), and Rajasthan (4% of advances, 6% of deposits). The bank aims to serve customers across various segments, including individuals, families, small businesses, and entrepreneurs.

Written By:Khush Kothari

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