Profit before tax (PBT) rose 18.81% to Rs 105.34 crore in Q3 FY25 over Q2 FY25. Net interest income stood at Rs 593 crore in Q3 December 2024, down 0.17% compared with Rs 594 crore in Q2 September 2024. Operating income stood at Rs 770 crore in Q3 December 2024 as against Rs 769 crore in the September 2024 quarter.
On a year-on-year basis, Jana Small Finance Bank's net profit fell 17.81% to Rs 110.66 crore on 15.06% increase in total income to Rs 1,354.82 crore in Q3 December 2024 over Q3 December 2023. Profit before tax fell 21.76% year-on-year to Rs 105.34 crore during the quarter.
The bank registered a 24.4% YoY growth in its total deposits to Rs 25,865 crore in Q3 December 2024. Its current account and savings account (CASA) deposits grew by 22.3% YoY to Rs 4,768 crore in Q3 December 2024. Meanwhile, term deposits saw a 24.9% YoY increase in the December quarter of FY25. However, the CASA ratio declined to 18.4% as of December 2024, from 20.1% in September 2024 and 19.7% in March 2024, attributed to reductions in interest rates.
Ajay Kanwal, MD and CEO, Jana Small Finance Bank said: "The Bank has delivered a strong quarter with improving credit quality and strong growth in secured assets. MFI business challenge have bottomed out but we remain cautious. Focus on retail CASA will get further attention given price cut. The strong performance in a difficult year has been possible due to the dedicated and committed effort put in by the 24,000 employees across our national footprint in 24 states and 778 branches."
Jana Small Finance Bank, a scheduled commercial bank, is the 4th largest Small Finance Bank in India with an experience of over 16 years in lending and serving 12 million customers. The bank, launched in March 2018, has a national presence across 22 states and 2 union territories, spread across 778 branches.