AU Small Finance Bank clocks 29% y-o-y growth in Q1; stock dips ~2%

5 Jul 2023 , 02:36 PM

AU Small Finance Bank Limited announced its results for the quarter ended June 2023. The Jaipur-based SFB said that the company registered a significant growth of 29% y-o-y in its advances, reaching Rs 63,635 crore in Q1FY24 against Rs 49,349 crore in the previous corresponding quarter.

The bank said that its deposits increased by 27% on a y-o-y basis, from Rs 54,631 crore to Rs 69,315 crore.

According to the lender’s preliminary data for the June 2023 quarter, the current account and savings account (CASA) increased by 14% on a year-on-year basis to Rs 24,286 crore from Rs 21,216 crore. 

In the June 2023 quarter, the bank said that it opened about 49,000 savings accounts through video banking + AU 0101 service.

At around 2.18 PM, AU Small Finance Bank was trading 1.60% lower at Rs 764.80, against the previous close of Rs 777.20 on NSE. The counter touched an intraday high and low of Rs 782.50 and Rs 761.10, respectively.

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