Equitas Small Finance Bank (57 to 97.10)
Recommended on: 18-Jan-2023
Recommended Price: 57
Today’s High: 97.10
Return Till Date: 70.35%
Date High Made: 13-July-2023
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Equitas Small Finance Bank Limited, previously known as Equitas Finance Limited, is a leading small finance bank in India.
The bank focuses on catering to the needs of individuals with limited access to formal financing channels, Micro, Small & Medium Enterprises (MSMEs), and corporates. With a strong strategy centered around providing credit to the unbanked and underbanked micro-entrepreneurs, the bank aims to address the growing aspirations at the bottom of the pyramid through granular deposits and value-for-money banking relationships.
Equitas Small Finance Bank Limited was incorporated on June 21st, 1993, under the name V.A.P. Finance Private Limited. It was later renamed Equitas Finance Private Limited in August 2011. In September 2015, following its transformation into a Public Limited Company, the company’s name was changed to Equitas Finance Limited. Equitas Holdings Limited acquired the company in 2011.
Product and Service Offerings:
Equitas Bank offers a diverse range of products and services to cater to its customer base. The bank provides asset products such as Small Business Loans, including loans against property, housing loans, and agriculture loans. It also offers microfinance to joint liability groups predominantly comprising women, used and new commercial vehicle loans, MSE loans to proprietorships, and loans to non-banking financial companies (NBFCs).
On the liability side, the bank serves mass and mass-affluent individuals with current accounts, salary accounts, savings accounts, and various deposit accounts. In addition, the bank provides non-credit offerings, including ATM-cum-debit cards, third-party insurance, mutual fund products, and the issuance of FASTag.
Banking Outlet and Expansion:
Equitas Bank operates through a network of branches and outlets. These outlets primarily focus on garnering and servicing depositors, while also conducting lending operations for the underbanked and unbanked. The bank has deployed 322 ATMs and cash recyclers at its banking outlets to create a convenient and pleasant banking experience. Currently, the bank has a presence in over 853 locations across 15 States/Union Territories of India.
Human Resources and Recognition:
Equitas Bank recognizes the importance of attracting and retaining top talent to fuel its growth. The bank is committed to creating future leaders and has implemented structured talent development initiatives. In recognition of its efforts, the bank was certified as a ‘Great Place to Work’ by the Great Place to Work Institute. It was also awarded the Best Place to Work in India 2021 among Mid-size Banking Companies by AmbitionBox.
Equitas Small Finance Bank Limited has established itself as a leading small finance bank in India, focusing on providing financial solutions to individuals and micro and small enterprises that are underserved by formal financing channels. With a strong emphasis on inclusivity and a comprehensive range of products and services, the bank is well-positioned to capitalize on the growth of the Indian economy and serve the evolving needs of its customers.