AU Small Finance Bank has reported robust growth in its deposits and advances for the quarter ending September 30, 2024. Following its merger with Fincare Small Finance Bank on April 1, 2024, the bank saw a 12.7% quarter-on-quarter increase in total deposits, reaching ₹1,09,690 crore. Year-to-date, deposits rose by 12.3%.
The bank’s gross advances also saw an upswing, climbing to ₹96,030 crore—a 5.9% increase from the previous quarter and 11% year-to-date. Its gross loan portfolio, including securitized and assigned loans, reached ₹1,05,030 crore, reflecting a 5.2% quarterly growth.
CASA deposits also witnessed growth, with a 10.9% rise over the last quarter, totaling ₹35,520 crore. The bank’s CASA ratio, an indicator of stable deposits, stood at 32.4%.
In an important regulatory development, AU Small Finance Bank applied last month to the Reserve Bank of India (RBI) for approval to transition from a small finance bank to a universal bank.
Also Read | RBI approves Fincare and AU Small Finance Bank merger, effective from 1st April
AU Small Finance Bank is expected to release its full financial results for Q2 2024 in the coming weeks.
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