'AU Small Finance Bank has
reported net profit at Rs 502.56 crore for the quarter ended June 2024
(Q1FY2025) for the merged entity post merger of Fincare Small Finance Bank
effective from 1 April 2024. The Net Interest Margin (NIM) of the bank improved
to 6.00% in Q1FY2025 compared to 5.70% in the corresponding quarter of previous
year.
On business front, the bank
as has posted 41% growth in business with strong 43% surge in loan book. The
asset quality of the bank was stable in Q1FY2025. Bank has substantially
improved the credit to deposit ratio to 93.2% at end June 2024 from 91.8% at
end June 2023. However, the CASA ratio of the bank has declined to 32.9% at end
June 2024 from 35.0% at end June 2023.
Board
has considered and approved making an application to RBI for
transition to a Universal Bank pursuant
to the RBI Guidelines. Board has constituted a Committee of Directors to vet the application for submission with
RBI. Committ...
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