InvestorQ : How did the AU Small Finance Bank report a growth in profits in a tough quarter?
NISHA Nayak made post

How did the AU Small Finance Bank report a growth in profits in a tough quarter?

Answer
image
3 months ago
Follow

AU Small Finance Bank reported 6% growth in net profit at Rs.201 crore for the Jun-20 quarter. In fact, the profits excluding profit from sale of equity shares of Avas Financiers was itself up 48% at Rs.177 crore. Total revenues of the small finance bank were also up 22% at Rs.1410 crore. Interest income was up 24% at Rs.1184 crore in the Jun-20 quarter.

The gross NPAs of the SFB fell to 1.69% from 2.08% in the corresponding quarter last year. The SFB has performed well on almost all the metrics including deposit growth, liquidity buffers, assets quality, digital banking reach, customer engagements etc. The bank has also seen a consistent fall in the cost of funds during the quarter.

2 Views