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AU Small Finance Bank Q3 result: Here are three key takeaways

AU Small Finance Bank Q3: The bank reported 30 percent year-on-year growth in its net profit for the quarter ended December 31, 2022, to Rs 393 crore

January 19, 2023 / 04:57 PM IST
Its net interest income (NII) stood at Rs 1,153 crore, recording a 41 percent YoY growth.

Its net interest income (NII) stood at Rs 1,153 crore, recording a 41 percent YoY growth.

AU Small Finance Bank, the country’s largest small finance bank, on January 19 announced its results for the quarter ending December 2022 (Q3FY23). The bank reported its highest-ever profit from operating activities and healthy asset quality figures.

Here are key three highlights from the bank’s earnings report card:

Record net profit

AU Small Finance bank’s net profit for the quarter ended December 2022 was its highest-ever quarterly net profit. The lender reported a 30 percent YoY jump in profit at Rs 393 crore against Rs 302 crore reported in the year-ago period.

Its net interest income (NII) stood at Rs 1,153 crore, recording a 41 percent YoY growth.

The bank’s operating profit jumped to Rs 555 crore from Rs 458 crore last year.

Improvement in asset quality

The gross non-performing asset (NPA) ratio of the lender stood at 1.81 percent, down from 2.6 percent YoY. The lender’s net NPA ratio stood at 0.51 percent down from 1.29 percent in the year-ago period.

Sequentially, the GNPA declined to Rs 1,018 crore in December 2022 while the NNPA slipped to Rs 285 crore.

Marginal deposit growth

AU SFB’s deposit traction continued as it jumped 5 percent sequentially and 16 percent since March 20222 to Rs 61,101 crore.

The bank’s current and savings account (CASA) deposit jumped 35 percent YoY to Rs 23,471 crore. Its CASA ratio stood at 38 percent; CASA and retail term deposits stood at 70 percent.

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