AU Small Finance Bank reports net profit of Rs 402 crore, up by 17% y-o-y in Q2FY24

30 Oct 2023 , 11:04 AM

AU Small Finance Bank recorded a net profit of Rs 401.8 crore in the second quarter of fiscal year 2023-24 (Q2FY24), a 17.3% increase over the previous year.

The private sector bank’s net interest income (NII) was Rs 1,249 crore in the September 2023 quarter, up 15.3% from the previous fiscal’s equivalent period of Rs 1,083.4 crore.

AU Small Finance Bank’s gross non-performing asset (NPA) ratio improved to 1.76% in Q2FY24, from 1.91% the previous quarter.

However, the net NPA ratio grew to 0.60% in the second quarter, up from 0.55% in the June 2023 period.

According to a press statement, the bank’s total deposits surpassed Rs 75,000 crores, increasing by 30% yearly and 9% sequentially. 

The bank noted that current account saving account (CASA) deposits increased by 6% quarter on quarter to Rs 25,666 crore, with the CASA ratio standing at 34%.

According to the bank, the total number of new clients obtained in the September 2023 quarter was 3.65 lakh. According to the report, 45% of them were acquired through digital products and methods.

For feedback and suggestions, write to us at [e-mail]