AU Small Finance Bank's deposits grow 45% yoy, advances up 32%

AU Small Finance Bank's total deposits grew 45 per cent over the last year to Rs 39,034 crore in Q2 FY22, it revealed in its quarterly performance report to BSE. The bank had deposits of Rs 26,980 crore in the September quarter last year.

The bank's CASA ratio stands at 30 per cent in September quarter FY22 as against 20 per cent in the sa​me period last year. AU Small Finance Bank's loan assets under management (AUM) scaled 24 per cent to Rs 38,011 crore in Q2FY22 from Rs 30,590 crore in the year-ago period.

AU Small Finance Bank's gross advances also soared 32 per cent to Rs 36,405 crore from Rs 27,534 crore. The bank's funds-based disbursements grew 57 per cent year-on-year to Rs 5,135 crore from Rs 3,268 crore.

Additionally, the bank approved the appointment of Vinay Vaish as Head of Internal Audit for three years with effect from October 7. Vaish is a Chartered Accountant and has more than 20 years of experience in the Banking industry including at AU Small Finance Bank.

"In Q2FY22, the Bank saw improvement versus the Q1FY22 across several key aspects such as borrower connect, business continuity, and confidence within the operating environment. As also reflected in the data above, this momentum has resulted in pick-up in disbursements, strong collection efficiencies resulting in robust improvement in asset quality," the statement further added.

Also Read: After WhatsApp, FB and Insta, Jio Network down for many users in India

Also Read: OTT platforms like Netflix, Prime Video and others to have 650 million users by 2025: Bain & Co.

Also Read: WestBridge Capital leads $28 mn Series B funding in Sunstone Eduversity