AU's gross non-performing assets ratio fell 42 basis points (bps) to 1.99% at the end of September. This helped in 25% lower provision at Rs 359 crore against Rs 481 crore. Net NPA ratio improved by 7 bps to 0.81%. Annualised credit cost improved by 45 bps to 0.8% from 1.2% over the year.
AU's gross non-performing assets ratio fell 42 basis points (bps) to 1.99% at the end of September. This helped in 25% lower provision at Rs 359 crore against Rs 481 crore. Net NPA ratio improved by 7 bps to 0.81%. Annualised credit cost improved by 45 bps to 0.8% from 1.2% over the year.
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Kolkata: AU Small Finance Bank on Saturday reported a 37% jump in first quarter net profit at Rs 796 crore over Rs 581 crore in the year ago period, backed by improved asset quality, normalisation of unsecured loans and healthy business growth.The Jaipur-headquartered lender, which is in a transition into a universal bank, also announced the elevation of chief operating officer Yogesh Jain to deputy chief executive officer to strengthen the leadership bandwidth.Its pre-provision operating profi…
AU Small Finance Bank recorded a 37% surge in Q1 net profit to Rs 796 crore, driven by robust loan growth and improved asset quality. Gross NPA dropped to 2.1%, while net interest income grew 32% to Rs 2,695 crore.
