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AU Small Finance Bank posted their quarterly financial report with a net profit of Rs. 91.4 crores, for the July-September quarter of 2018-19. The bank had earlier reported a net profit of Rs 68.2 crores in the corresponding period of 2017-18.
According to the regulatory filing, the total income stood at Rs 805.87 crores, posting a 60.2 per cent increase during the quarter under review, as compared to Rs. 502.88 crores in the year-ago corresponding period.
AU Small Finance Bank MD and CEO Sanjay Agarwal said, “Last quarter, we saw a continued strong uptick in our disbursements, deposits, CASA, asset quality, rating and an improvement in our cost-to-income ratio. The recent market events have once again placed banks in a sweeter spot.”
He also added that going forward, the bank expects market share gain in retail assets and incremental deposits mobilisation. He stated, “As we chase our $10 billion total assets target by FY22, we continue to focus on data, digital, distribution and delight.”
According to the report, the bank’s loan portfolio was at Rs 20,200 crore, up about 66 per cent year-on-year, as of September 30. Net interest income (NII) for the quarter under review rose about 46 per cent to Rs. 321 crores, as against the previous year corresponding period.
