{"id":38391,"date":"2022-04-26T21:01:54","date_gmt":"2022-04-26T15:31:54","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-results-ld-au-sfb\/"},"modified":"2022-04-26T21:01:54","modified_gmt":"2022-04-26T15:31:54","slug":"biz-results-ld-au-sfb","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-results-ld-au-sfb\/","title":{"rendered":"AU Small Finance Bank net income more than doubles to Rs 346 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-990968593\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Mumbai, Apr 26 (PTI) AU Small Finance Bank on Tuesday reported a 105 per cent growth in net income at Rs 346 crore for the March quarter driven by margin expansion, record loan sales and lower provisioning for impaired assets.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2745344674\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> However, the Jaipur-based lender which has completed five years of operations said its full year net came fell to Rs 1,130 crore from Rs 1,171 crore on an annual income of Rs 6,915 crore that rose 21 per cent and a net interest income of Rs 3,234 crore that grew 37 per cent.<\/p>\n<p> For the quarter, total income rose to Rs 1,978.41 crore from Rs 1,539.54 crore on-year, the bank said, adding the key profitability metric net interest margin touched the highest at 5.9 per cent from 5.4 per cent in the year-ago period, partly driven by falling cost of funds which slipped to 5.7 per cent from 6.5 per cent.<\/p>\n<p> Sanjay Agarwal, managing director and chief executive of the bank, told PTI that all-round improvement numbers are driven by record loan sales in the quarter which rose 39 per cent to Rs 10,295 crore, and a massive improvement in asset quality. He also credited the numbers to the huge investments made in people, digital assets and brand building.<\/p><div class=\"trade-content_5\" id=\"trade-968981988\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The bank made Rs 653 crore in bad loan provisions, and has made an additional buffer provision of Rs 192 crore against restructured book, contingency provision of Rs 157 crore, floating provision of Rs 41 crore and standard provision of Rs 139 crore, he said, adding the provision coverage ratio stood at 75 per cent against 50 per cent earlier.<\/p>\n<p> Deposits grew 19 per cent to Rs 52,585 crore in the quarter and 46 per cent on-year from Rs 35,979 crore, of which the low-cost CASA (Current Accounts Savings Account) rose to 37 per cent from 23 per cent a year ago.<\/p>\n<p> Disbursements included loans under ECLGS (Emergency Credit Line Guarantee Scheme) of Rs 64 crore in the quarter, and non-fund disbursements jumped 90 per cent to Rs 742 crore. Gross advances grew 32 per cent to Rs 46,789 crore from Rs 35,356 crore, taking the total balance sheet to Rs 69,078 crore, up 34 per cent. The total loan book grew 27 per cent to Rs 47,831 crore, of which 88 per cent are retail loans.<\/p>\n<p> The bank has issued over 1.7 lakh credit cards since it entered this unsecured vertical earlier in the year.<\/p>\n<p> As part of the fifth year of operations, the board recommended offering bonus shares in the ratio of 1:1 and also a dividend of Re 1 per equity share (pre-bonus issue) or Rs 0.50 a share (ex-bonus issue) for the fiscal.<\/p>\n<p> During the quarter, the bank opened 39 new touch points in the form of asset centres, bank branches and outlets, taking the total network to 919.<\/p><div class=\"trade-content-10\" id=\"trade-636414302\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The bank&#8217;s stock closed at Rs 1,416 on the BSE, up 3.71 per cent from the previous close. PTI BEN KPM  HVA<\/p>\n<div class=\"trade-after-content\" id=\"trade-4144621820\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Apr 26 (PTI) AU Small Finance Bank on Tuesday reported a 105 per cent growth in net income at Rs 346 crore for the March quarter driven by margin expansion, record loan sales and lower provisioning for impaired assets. However, the Jaipur-based lender which has completed five years of operations said its full year [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-38391","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AU Small Finance Bank net income more than doubles to Rs 346 cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-results-ld-au-sfb\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AU Small Finance Bank net income more than doubles to Rs 346 cr\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Apr 26 (PTI) AU Small Finance Bank on Tuesday reported a 105 per cent growth in net income at Rs 346 crore for the March quarter driven by margin expansion, record loan sales and lower provisioning for impaired assets. 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