AU SFB reported 26 percent increase YoY in Q4FY24

by Psu Connect
Date: 04-04-24

The company's net profit declined 4.47% to Rs 375.24 crore on a 32% increase in total income to Rs 3,185.51 crore in Q3 FY24 over Q3 FY23.

AU SFB reported 26 percent increase YoY in Q4FY24

AU Small Finance Bank's stock rose by 4.64% to Rs 633.30 after the bank reported a 26% increase in total deposits, reaching Rs 87,182 crore as of 31 March 2024 compared to Rs 69,365 crore as of 31 March 2023.

The bank's deposits are 9% higher than the base of Rs 80,120 crore as of 31 December 2023. The bank's CASA ratio, which measures current and savings account deposits to total deposits, was 33% as of 31 March 2024, down from 38% as of 31 March 2023 and unchanged from 33% as of 31 December 2023. The bank's gross advances as of 31 March 2024 stood at Rs 73,999 crore, up by 25% YoY and 9% QoQ.

Securitized or assigned loan portfolio amounted to Rs 8,176 crore as of 31 March 2024 as compared with Rs 4,914 crore as of 31 March 2023 and Rs 8,553 crore as of 31 December 2023. The company's net profit declined 4.47% to Rs 375.24 crore on a 32% increase in total income to Rs 3,185.51 crore in Q3 FY24 over Q3 FY23.

Advances growth continues to remain strong across both Retail assets and Commercial banking assets and the Bank achieved the highest ever disbursement in March’24. The asset quality continues to remain within the long-term range. Bank securitized loans worth ? 616 Cr during the quarter and the Bank’s overall Gross Loan portfolio grew by 8% QoQ and 28% YoY.

In addition to this, the Bank has started offering products and services to customers under the Authorised Dealer Category – I (AD Cat-I) license during the quarter.