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AU Small Finance Bank's Q4 net profit dips by 13% to Rs 371 crore

The numbers are not strictly comparable as Fincare SFB was merged with AU SFB in the Jan-March quarter

AU Small Finance Bank

AU Small Finance Bank (Photo: Wikimedia Commons)

Anjali Kumari Mumbai

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AU Small Finance Bank reported a 12.69 per cent year-on-year (YoY) decline in net profit to Rs 370.73 crore for the quarter ended March 31, compared with Rs 424.6 crore in the corresponding quarter of the last year, mainly on the back of a rise in provisions.

Sequentially, the profit fell 1.19 per cent. But the numbers are not strictly comparable as Fincare SFB was merged with AU SFB in the Jan-March quarter.

Provisions for the quarter ended March surged by 224 per cent, reaching Rs 132.5 crore, compared to Rs 40.8 crore in the previous year. The total provisions rose on the back of the increase in provision on NPAs and write off which rose to Rs 90 crore in the quarter from Rs 20 crore in the corresponding quarter of the previous year.

Net interest income of the lender rose by 10 per cent year-on-year to Rs 1,337 crore, while other income rose by 66.8 per cent to Rs 555.6 crore year-on-year.


The bank’s asset quality improved, with the gross non-performing asset (NPA) ratio decreasing by 31 basis points to 1.67 per cent quarter-on-quarter. Additionally, the net NPA ratio saw a decline of 0.55 per cent from 0.68 per cent in the previous quarter.

Total deposits rose by 26 per cent year-on-year to Rs 87,182 crore, up from Rs 69,365 crore in the corresponding quarter of the last year.

Current and savings account deposits rose by only 9 per cent on a year-on-year basis to Rs 29,126 crore.

The CASA ratio for the quarter remained flat sequentially at 33 per cent. Gross advances also showed robust growth, increasing by 25 per cent year-on-year to Rs 73,999 crore compared to Rs 59,158 crore.

The credit-deposit ratio stood at 84 per cent of the total advances.

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First Published: Apr 24 2024 | 8:47 PM IST

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