Moneycontrol
Last Updated : Oct 13, 2018 11:13 PM IST | Source: PTI

AU Small Finance Bank Q2 net profit surges 34% to Rs 91 crore

The total income increased by 60.2 percent to Rs 805.87 crore in the reported quarter as compared to Rs 502.88 crore in the year-ago period

 
 
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AU Small Finance Bank on Saturday reported 34 percent rise in net profit to Rs 91.4 crore for the second quarter of 2018-19.

The bank had reported a net profit of Rs 68.2 crore in the July-September period of 2017-18.

The total income increased by 60.2 percent to Rs 805.87 crore in the reported quarter as compared to Rs 502.88 crore in the year-ago period, it said in a regulatory filing.

"Last quarter, we saw a continued strong uptick in our disbursements, deposits, CASA, asset quality, rating and an improvement in our cost-to-income ratio. The recent market events have once again placed banks in a sweeter spot," AU Small Finance Bank MD and CEO Sanjay Agarwal said.

He added that going forward, the bank expects market share gain in retail assets and incremental deposits mobilisation.

"As we chase our $10 billion total assets target by FY22, we continue to focus on data, digital, distribution and delight," he added.

As on September 30, the bank's loan portfolio was at Rs 20,200 crore, up about 66 percent year-on-year.

Net interest income for the second quarter was at Rs 321 crore, up about 46 percent over the year-ago period.
First Published on Oct 13, 2018 11:13 pm

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