Jana Small Finance Bank has reported a 25 per cent year-on-year (YoY) increase in its Profit After Tax (PAT) for the first half (H1) of FY25, reaching ₹267 crore, up from ₹213 crore in H1 FY24. The bank’s Board of Directors approved the unaudited financial results for the half-year ending September 30, 2024, highlighting notable growth across key financial metrics.
The bank’s loan assets under management (AUM) stood at ₹26,411 crore, marking a 17 per cent YoY growth. Secured assets make up 65 per cent of the AUM, with secured asset growth at 29 per cent YoY. However, unsecured assets grew by just 1 per cent y-o-y, reflecting a slight de-growth of 7 per cent compared to the first half of FY24.
Jana SFB’s total deposits surged 31 per cent YoY to ₹24,808 crore, with a 10 per cent growth in H1 FY25 alone. The bank saw a significant boost in CASA deposits, which grew 28 per cent YoY to ₹4,977 crore. The CASA ratio increased to 20.1 per cent as of September 2024, compared to 19.7 per cent in March 2024.
The bank’s total income for H1 FY25 reached ₹1,568 crore, up from ₹1,339 crore in H1 FY24. Operating profit stood at ₹654 crore, compared to ₹556 crore last year. The cost-to-income ratio remained steady at 58.3 per cent, while return on average assets (ROA) and return on average equity (ROE) were recorded at 1.6 per cent and 14.5 per cent, respectively.
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Gross non-performing assets (GNPA) rose to 2.86 per cent, driven by stress in the microfinance institution (MFI) business, while net NPA (NNPA) was reported at 0.95 per cent. The provision coverage ratio (PCR) stood at 67.3 per cent.
The bank also maintained a strong capital adequacy ratio (CAR) of 18.8 per cent, with a Tier-1 CAR of 17.8 per cent. Factoring in the interim profits for H1 FY25, the overall CAR increased to 20.3 per cent, with Tier-1 at 19.3 per cent. The bank also reported robust liquidity, with a liquidity coverage ratio (LCR) of 261 per cent.
Commenting on the bank’s performance, Ajay Kanwal, MD & CEO, Jana Small Finance Bank, stated, “Jana SFB delivered a solid quarter, growing secured assets and deposits with a focus on CASA. However, elevated delinquency in the MFI business has resulted in higher GNPA. Despite this, we continue to serve aspirational India across 24 states, with the aim of becoming an anchor bank for our customers.”
