Prolonged MFI stress
Collection efficiency may not normalize until Q3/Q4 FY26, with potential for further credit cost surprises.
EQUITASBNK / Q1-FY26 / risks
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Equitas Small Finance Bank · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Further provisioning tightening
Management did not rule out additional strengthening of provisioning norms in future, which could pressure earnings.
Spillover from state recovery ordinances
Karnataka and Tamil Nadu acts against coercive recovery have impacted lower-ticket secured loans, though management sees limited further stress.
Cost-to-income ratio remains elevated
Cost-to-income peaked at 70% in Q1; management expects it to remain elevated in near term before improving to 60-65% in 2 years.