Equitas Small Finance Bank (ESFB) has announced a significant change in its senior management team. Dheeraj Mohan, who held the position of Head-Strategy, Customer Experience, Investor Relations, BI Analytics, has resigned from his role, effective October 31, 2025.

Early Departure

Mohan's departure comes ahead of his originally scheduled exit date of November 21, 2025. The bank's management agreed to relieve him earlier based on his personal request. Along with his primary responsibilities, Mohan also relinquished his role as the Chief Investor Relation Officer (CIRO) on the same date.

Regulatory Compliance

In adherence to the SEBI listing regulations, Equitas Small Finance Bank promptly informed the stock exchanges about this change in senior management personnel. This transparent communication aligns with the bank's commitment to regulatory compliance and shareholder information.

Management's Statement

The bank's management, in its official communication, stated, "Basis the request received from the above SMP (Senior Management Personnel), the Management of the Bank, has after due consideration has decided to relieve the said Official effective from the close of business hours today, i.e., October 31, 2025."

Implications

While the bank has not disclosed immediate plans for Mohan's replacement, this change in the senior leadership team could potentially influence the bank's strategic direction and investor relations approach. Stakeholders will likely be keen to observe how ESFB manages this transition and any subsequent appointments to fill the vacated roles.

As Equitas Small Finance Bank navigates this change, the financial community will be watching closely for any impacts on the bank's operations and strategic initiatives. The bank's ability to maintain continuity in its customer experience and investor relations functions will be crucial in the coming months.

Equitas Small Finance Bank has reported a loss for the quarter ended September 30, 2025, while also announcing successful fundraising through Non-Convertible Debentures (NCDs).

Key Highlights

• The bank reported a loss before tax of Rs 20,304.18 lakhs for the quarter
• Profit before tax for the half year stood at Rs 10,884.91 lakhs
• Rs 500 crores raised through NCDs in December 2024 and July 2025
• Total deposits increased to Rs 44,09,350.31 lakhs
• Advances rose to Rs 36,35,228.27 lakhs

Financial Performance

Equitas Small Finance Bank experienced a challenging quarter, reporting a loss before tax of Rs 20,304.18 lakhs, compared to a profit of Rs 5,582.06 lakhs in the previous quarter. However, for the half year, the bank maintained a profit before tax of Rs 10,884.91 lakhs.

Deposit and Advance Growth

Despite the quarterly loss, the bank showed growth in key areas:

Fundraising through NCDs

The bank successfully raised Rs 500 crores through Non-Convertible Debentures issued in December 2024 and July 2025. These funds have been fully utilized for their intended purposes with no material deviation, demonstrating the bank's commitment to strategic financial management.

Employee Stock Option Plan (ESOP)

During the half year, Equitas Small Finance Bank issued 6,43,777 equity shares under its ESOP scheme, indicating ongoing efforts to align employee interests with the bank's performance.

Outlook

While the quarterly loss presents challenges, the growth in deposits and advances, along with successful fundraising efforts, suggests that Equitas Small Finance Bank is taking measures to strengthen its financial position. The bank's ability to maintain half-yearly profitability and expand its balance sheet will be crucial factors to watch in the coming quarters.