AU Small Finance Bank Q4 Results: Reports Highest-Quarterly Profit Of Rs 425 Crore

AU Small Finance Bank on Tuesday reported its highest-ever quarterly profit of Rs 425 crore in March quarter, up 23% year-on-year. The bank's net profit was Rs 346 crore in the year-ago quarter.

It's net profit for the full financial year 2022-23 stood at Rs 1,428 crore, up 26% year-on-year, the lender said in a statement.

Bank's asset quality improved with gross NPA at 1.66% in March 2023 as against 1.98% in March 2022.

Net NPA stood at 0.42% of net advances in March 2023 as against 0.50% in the year-ago period.

It further said the net interest margin for 2022-23 was maintained at 6.1% (including assigned/securitised book).

Bank's total balance sheet grew by 31% year-on-year to Rs 90,216 crore. Deposits grew by 32% year-on-year to Rs 69,365 crore.

"Amidst a difficult market, we have managed to grow our deposit book while keeping our CASA ratio stable and making our deposits more granular and retail. Our asset quality has also improved further this year with net NPA coming down to 0.4%," said Sanjay Agarwal, MD & CEO, AU Small Finance Bank.

The bank's total capital adequacy stood at a healthy 23.6% as against minimum requirement of 15%, of which tier-I capital stood at 21.8% as against minimum requirement 7.5%.

The board of directors of the bank has recommended a dividend of Rs 1 per equity shares (10% of face value) from the net profit for the year ended March 2023, subject to approval of shareholders.

AU Small Finance Bank started its banking operations in April 2017 and as on March 31, 2023, it has established operations across 1,027 banking touchpoints.