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 Equitas Small Finance Bank?
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 Equitas Small Finance Bank?
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. Com ampla experiência em serviços financeiros, ele foi Vice-Presidente Executivo e Chefe de Banco de Varejo no Development Credit Bank Limited.
Trabalhou quase 20 anos na Cholamandalam Investment and Finance Company Limited, onde saiu como Vice-Presidente e Chefe de Financiamento de Veículos. Em 2006, foi Presidente do comitê de gestão da Associação de Compra a Prazo do Sul da Índia. Narasimhan entrou no banco em 25 de julho de 2016, após ser Diretor Geral da EHL.
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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.
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Written By: Khush Kothari