AU Small Finance soars after deposits, advances rise over 30% YoY in Q1

AU Small Finance Bank jumped 8.17% to Rs 1115.40 after the bank's total deposits increased 38% to Rs 37,014 crore as on 30 June 2021 from Rs 26,734 crore as on 30 June 2020.

The bank's total deposits increased 3% as on 30 June 2021 from Rs 35,979 crore as on 31 March 2021.

CASA ratio stood at 26% as on 30 June 2021 as against 14% as on 30 June 2020 and 23% as on 31 March 2021.

Average cost of funds was 6.3% in Q1 FY22 as compared with 7.2% in Q1 FY21.

Gross advances increased by 31% to Rs 34,688 crore as on 30 June 2021 from Rs 26,534 crore as on 30 June 2020. However, the gross advances are lower by 2% as compared with Rs 35,356 crore as on 31 March 2021.

Loan AUM has increased 22% YoY to Rs 36,635 crore as on 30 June 2021. It has declined by 3% from Rs 37,712 crore as 31 March 2021.

Disbursements in Q1 FY22 were at Rs 1,896 crore compared with disbursement of Rs 1,181 crore in Q1 FY21.

The bank's collection efficiency was 114% in June 2021, 94% in May 2021 and 95% in April 2021.

Gross NPA as on 31 March 2021 stood at Rs 1,503 crore. Net additions (gross additions net of recoveries and upgrades) to GNPA was negative Rs 8 crore during Q1'FY22.

The bank restructured advances worth Rs 686 crore (representing 2% of gross advances) during Q1 FY22 in a total of 15,964 accounts.

AU Small Finance Bank (AU Bank) is a scheduled commercial bank. As on 31 March 2021, the bank has established operations across 744 banking touchpoints while serving 20.2 lakh customers in 15 states & 2 union territories.

The small finance bank reported 38% jump in net profit to Rs 169 crore in Q4 FY21 from Rs 122 crore in Q4 FY20. Total income was at Rs 1569.01 crore in Q4 FY21, up by 14.8% from Rs 1366.60 crore in Q4 FY20.

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