AU Small Finance Bank's Deposits Rose 165% In The Last Three Years, Says CEO

AU Small Finance Bank's deposits have grown over twofold in the last three years, during the pandemic and following disruptions like demonetisation and Goods and Services Tax implementation, according to its Chief Executive Officer, Sanjay Agarwal.

The bank's liability deposits rose by 165% from Rs 26,164 crore in March 2020 to Rs 69,365 crore in March 2023, with the current and savings account ratios improving from 14% to 38%, Agarwal told BQ Prime.

Within the same period, the non-performing assets rose from 1.7% in March 2020 to 4.3% in June 2021 and are currently down to 1.8%, he said.

Agarwal has been reappointed as managing director and CEO of the bank for three years, effective April 19.

The bank has raised Rs 2,625 crore in the last three years through qualified institutional placements.