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ICICI Securities Report
Key takeaway from AU Small Finance Bank Ltd.'s FY21 annual report is the display of business resiliency during challenging times.
This is reflected in 38% YoY growth in deposits with 86 basis points decline in cost of funds and 22% YoY growth in assets with best-in-class asset quality.
Further, the bank remained focused on achieving the fastest growth to Rs 1 trillion book size with a client base of more than10 million from currently ~2 million.
Journey to become a pan-India retail bank remained on track with AU Small Finance Bank entering five new states and addition of more than 5,000 new members to further strengthen and fortify its workforce.
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