Residual stress in microfinance book
Despite stabilization, the microfinance book still carries elevated NPA levels and write-offs of ₹1,008 crore in 9M FY26.
ESAFSFB / Q3-FY26 / risks
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ESAF Small Finance Bank · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Slower-than-expected ROA normalization
Management indicated ROA normalization to 1.5-2% may take until FY28, implying near-term profitability pressure.
Credit cost volatility from legacy portfolio
Backlog of NPAs to be absorbed may keep credit costs elevated in the near term, delaying margin recovery.