Hyderabad, Jan 25 (UNI) AU Small Finance Bank (AU SFB) net profit rose 41 percent year-on-year to Rs 528 crore for the quarter ended December 31, 2024 as against Rs 375 crore in the corresponding period in previous financial year.
The Board of Directors of the bank at its meeting held here on Friday approved the financial results for A3FY24.
The bank’s Net Interest Income (NII) during the period grew 53 percent Y-o-Y to ₹2,023 Crore compared to ₹1,325 Crore during Q3’FY24.
Operating profit (PPoP) in Q3FY25 grew 85 percent Y-o-Y to ₹1,205 crore supported by growth in income and calibrated Opex.
Total deposits stood at ₹1,12,260 crore, registering a YTD growth of 14.9 percent.
Bank now has a total 1.1 crore + customers; serves them through a total 2,400 touch points across 21 states and 4 UTs with total strength of 49K+ employees.
Operating expenses in this quarter was down by 3 percent QoQ to ₹1,436 crore and up 29 percent Y-o-Y.
The Bank’s pre-provisioning operating profit (PPoP) for Q3’FY25 grew 85 percent YoY to ₹1,205 Crore compared to ₹650 Crore in Q3’FY24.
The Bank’s Gross NPA ratio as on December 31, 2024 is 2.31 percent and NNPA ratio at 0.91 percent.
Commenting on the performance, Sanjay Agarwal, Founder, MD & CEO, AU Small Finance Bank said, “The economy saw some bounce back during festive season, however the momentum slowed down towards the latter half of the quarter.
Overall economic activity, whilst better than H1, remains below market expectations. Tight liquidity and persistent inflation continue to pose challenge to deposit growth and interest rates”
Amidst this backdrop and in a highly competitive market, our performance in the first 9 months of the financial year has been resilient. We continue to grow at higher rates than the industry across both advances and deposits. Our secured assets franchise remains in a very good shape, however Microfinance business continues to see elevated credit cost and degrowth in line with the industry.
We remain focused on empowering individuals and businesses, contributing to India’s economic resilience and sustainable growth and I am thankful to the Government for supporting the MSME and Micro credit sector with various guarantee schemes, he added.
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