The Board of Administrators of ESAF Small Finance Financial institution accepted a proposal to lift funds by means of issuance of Basel-II compliant decrease tier-II subordinated bonds within the type of non-convertible debentures (tier-II bonds) aggregating as much as ₹135 crores on a non-public placement foundation.
The NCDs will likely be listed, rated, taxable, unsecured, transferable, redeemable, and absolutely paid-up, per the Thrissur (Kerala) headquartered financial institution’s regulatory submitting.
Within the third quarter ended December 31, 2023, the financial institution’s deposits had been up 40.6 per cent year-on-year (y-o-y) to ₹18,860 crore. Advances beneath administration (comprising 72.2 per cent micro loans and stability ‘retail & different loans’) rose 35.9 per cent to ₹18,149 crore.
Internet revenue virtually tripled to ₹112.1 crore towards ₹37.4 crore within the yr in the past quarter. As at December-end 2023, the financial institution had 731 banking retailers and 600 ATMs unfold throughout 21 States and a couple of Union Territories.