On April 24, 2016, Capital Small Finance Bank Limited, formerly known as Capital Local Area Bank, began doing business as India’s First Small Finance Bank. Since January 14, 2000, Capital Local Area Bank has served as India’s largest local area bank before converting to a small finance bank. The Bank was a pioneer in providing affordable modern financial services to rural communities.

Capital Small Finance Bank Limited on Monday said its total business grew by 15.58 per cent to Rs 12,584 crore for the quarter ended June 2023.

The Jalandhar-headquartered bank’s total business was Rs 10,888 crore during the first quarter of the last financial year, according to a statement.

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The bank said its deposits grew by 14.64 per cent to Rs 7,064 crore and advances went up by 16.81 per cent to Rs 5,519 crore.

The net worth of the bank increased by 28.81 per cent to Rs 69 crore during the first quarter of the current fiscal.

Sarvjit Singh Samra, managing director and chief executive officer of Capital Small Finance Bank said, “We are proud to report robust profits, which underscore the resilience of our business model and the effectiveness of our strategic initiatives.

“As we continue to navigate an ever-evolving financial landscape, we remain focused on sustaining this positive momentum and creating long-term value for our stakeholders.”