ESAF Bank

ESAF Small Finance Bank Ltd. reported a remarkable turnaround in the third quarter, posting a net profit of Rs. 7 crore, compared with a net loss of Rs. 211 crore in the same period last year. The recovery was driven by improved asset quality, disciplined credit growth, and enhanced operational efficiency. Strong collection mechanisms, prudent provisioning, and cost optimization contributed to profitability, signaling a stabilization of the bank’s financial health.

In a significant development for India’s microfinance sector, K Paul Thomas, Managing Director and CEO of ESAF Small Finance Bank, has been elected as the new Chairman of Sa-Dhan, a Reserve Bank of India-recognized self-regulatory organization (SRO) for microfinance and impact finance institutions. The appointment was confirmed at Sa-Dhan’s annual general meeting, which included participation from approximately 100 member institutions.