AU Small Finance Bank total deposits rise 5% QoQ in Q3

AU Small Finance Bank's total deposits grew 5% to Rs 61,101 crore as on 31 December 2022 as against Rs 58,335 crore as on 30 September 2022.

The total deposits jumped 16% as compared with Rs 52,585 crore as on 31 March 2022.

CASA ratio stood at 38% in third quarter of FY23 as against 42% posted in Q2 FY23 and 37% as on 31 March 2022.

Average cost of funds improved to 6% in quarter ended 31 December 2022 as compared to 5.8% reported in Q2 FY23. Incremental Cost of Funds was at 6.3% in Q3 FY23 as against 6.1% recorded in Q2 FY23.

Gross advances increased by 7% to Rs 56,335 crore as on 31 December 2022 from Rs 52,452 crore as on 30 September 2022 and 20% surge from Rs 46,789 crore as on 31 March 2022.

Fund-based disbursement amounted to Rs 10,012 crore (up 16% QoQ) while non fund-based disbursements aggregated to Rs 498 crore (down 15% QoQ) in quarter ended 31 December 2022.

Collection efficiency for December 2022 was 108%, for November 2022 was also 108% and for October 2022 was 105%. Collection efficiency is calculated with all money received during the month from borrowers (excluding foreclosure) as % of current billing for the month.

Bank has been focussed on building sustainable and stable asset and deposit franchise. Q3'FY23 was another quarter where we saw strong and consistent performance across parameters amidst a challenging macro environment of persistent inflation and tighter liquidity, the SFB stated in the press release.

AU Small Finance Bank (AU Bank) is a scheduled commercial bank. As on 30 September 2022, the bank has established operations across 980 banking touchpoints while serving 33.3 Lakh customers in 20 states & 2 union territories.

The bank reported 23% rise in net profit to Rs 343 crore on a 44% increase in net interest income (NII) to Rs 1,083 crore in Q2 FY23 over Q2 FY22.

Shares of AU Small Finance Bank declined 1.30% to Rs 642.65 on the BSE.

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