21 Jul 2022 , 03:36 PM
AU SFB reported a marginal decrease in quarterly net interest margin to 5.9% from 6% in the same quarter the previous year. However, net interest income during Q1FY23 witnessed a growth of 35% yoy at Rs976 crore as compared to Rs924 crore in Q1FY22.
The bank reported an improvement in its asset quality, with the Gross NPA ratio falling to 1.96% at the end of June against 4.3% in the previous corresponding quarter.
Net NPAs witnessed a decline of 1.70% at 0.56% in Q1FY23 against 2.26% in the same quarter previous year. Further, company’s provision coverage ratio jumped to 72% in the quarter under review as against 49% in Q1FY22.
The bank also announced that the board of directors has approved a Rs3,000 crore fund raise plan via issue of equity shares.
Bank’s AUM registered a growth of 37% yoy at Rs50,161 crore while deposits increased by 48% to Rs54,631 crore.
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