The board of the bank approved the plan Wednesday. The approval comes at a time when the microfinance sector is going through a severe stress. The bank with an unsecured lending share of 59% of total loan assets suffered a net loss of 168 crore in the third quarter due to a surge in bad loans.
The bank would raise the capital through either qualified institutions placements, or preferential issue or through public offer, it said in a regulatory filing to stock exchanges.
The bank’s capital adequacy ratio stood at 21%, well above the regulatory stipulation of 15%.
Its gross NPA ratio rose to 6.2% at the end of December from 3% a year back.
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Managing director Govind Singh said that the third quarter profitability was impacted due to the stress in the microfinance portfolio. In a post earning call with analysts, he said that profitability is expected to remain under stress in the fourth quarter even as the stress has peaked in micro banking.”We are not giving any specific guidance on profitability and asset quality in the current environment for Quarter 4 FY25, will share outlook as well as guidance on both for FY26 at the time of our Quarter 4 FY25 numbers,’ he said.
