Banks / Equitas Small Finance Bank
Banks / Equitas Small Finance Bank
Equitas Small Finance Bank traces its roots to Equitas Micro Finance, founded in 2007 by P N Vasudevan to provide small-ticket loans to underserved micro-entrepreneurs in Tamil Nadu. After the Reserve Bank of India's 2015 in-principle approval and a licence on 30 June 2016, the group's lending business (previously held under Equitas Holdings Ltd) was transferred into a new banking entity, Equitas Small Finance Bank, which commenced operations on 5 September 2016. In March 2023 the bank completed a reverse merger with its listed holding company, Equitas Holdings Ltd, to meet RBI's promoter shareholding dilution norms for SFBs, making the bank itself the single listed entity. The bank retains a strong heritage in microfinance (small business/JLG loans), used & new commercial vehicle finance, and MSME lending, alongside a growing retail deposits, housing and digital banking franchise.
Founding Managing Director & CEO, Equitas Small Finance Bank — has led the bank since it commenced operations on 5 September 2016, and led its predecessor, Equitas Micro Finance/Equitas Holdings, since founding it in 2007. In May 2022 he announced an intention to step down to pursue social welfare work, but withdrew that decision in December 2022 and continued as MD & CEO. The RBI most recently re-approved his reappointment as MD & CEO for a further three-year term effective 23 July 2026.
Like most private-sector and small finance banks, Equitas Small Finance Bank's top executive holds the standard title MD & CEO, appointed by the Board and subject to periodic (typically 3-year) reapproval by the RBI. The bank is chaired on a part-time, non-executive basis by Arun Ramanathan.
| Term | Tenure | Notable Period |
|---|---|---|
| Vasudevan P N (current term) | ~Jul 2026 – Jul 2029 (RBI re-approved) | Latest 3-year reappointment as MD & CEO effective 23 July 2026 |
| Vasudevan P N (prior term) | ~Jul 2023 – Jul 2026 | RBI-approved reappointment; oversaw post-merger integration after Equitas Holdings' reverse merger into the bank (Mar 2023) |
| Vasudevan P N (earlier term) | ~2016 – 2023 | Founding MD & CEO from bank's commencement (Sep 2016); led IPO listing (Oct 2020); briefly announced (May 2022) and then withdrew (Dec 2022) a decision to step down |
Note: Unlike most banks with a rotating cast of MD & CEOs, Equitas Small Finance Bank has had only one MD & CEO — its founder — since inception; the table above reflects his successive RBI-approved terms rather than different individuals. Exact term-start dates for the earliest terms are approximate (marked ~) pending confirmation from the bank's official disclosures.
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| Metric | FY 2025-26 (Mar 2026) | FY 2024-25 (Mar 2025) | FY 2023-24 (Mar 2024) | FY 2022-23 (Mar 2023) |
|---|---|---|---|---|
| Net Profit (Full Year) | ₹103 Cr | ₹147 Cr | ₹799 Cr | ₹574 Cr |
| Total Deposits | ~₹54,000 Cr | ₹46,533 Cr | ₹43,102 Cr | ₹36,129 Cr |
| Gross Advances | ~₹46,165 Cr | ₹37,986 Cr | ~₹32,300 Cr | ~₹25,900 Cr |
| Gross NPA Ratio | 2.60% | 2.89% | 2.61% | ~3.60% |
| Net NPA Ratio | 0.72% | 0.98% | 1.17% | ~1.82% |
| CRAR (Capital Adequacy) | 20.31% | 20.60% | 21.70% | ~23.00% |