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Motilal Oswal Report
AU Small Finance Bank Ltd. has released its business update for Q3 FY22. Here are the key highlights:
AU Small Finance Bank reported a strong sequential growth of 10.6% (up 26.5% YoY) in total assets under management to ~Rs 420 billion. On a gross advances basis, it witnessed a growth of 11.9% QoQ (up 33.4% YoY). The bank saw a significant improvement in the overall business environment, which resulted in strong disbursements.
In Q3 FY22, disbursements were up 59% QoQ at Rs 81.5 billion. Disbursements included Emergency Credit Line Guarantee Scheme of ~Rs 0.5 billion in Q3 FY22. The bank is witnessing strong traction in the credit cards business.
On the liability front, total deposits grew ~49% YoY and 13.4% QoQ to Rs 443 billion. This was led by robust current account and savings account growth.
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