Equitas SFB Reports 94% Drop in Q2 Profit, Stumbles Amid Rising Provisions

Equitas Small Finance Bank’s Q2 profit plummeted by 94% year-on-year, falling to just ₹13 crore. The sharp decline was due to higher provisioning for bad loans and a slowdown in business growth. Despite a rise in net interest income, the bank faced challenges from increased operational costs and weaker asset quality, leading to disappointing quarterly results.