Pre-provisioning profit in Q3 FY24 was at Rs 657 crore, registering a growth of 18%. Provisions soared 387.06% YoY to Rs 158.93 crore in Q3 FY24.

The bank's total deposits increased 31% YoY to Rs 80,120 crore while gross advances increased by 20% YoY to Rs 67,624 crore. Cost of funds improved by 20 bps QoQ to 6.90% in Q3 FY24.

The CASA deposits jumped 33% YoY to Rs 26,446 crore in Q3 FY24 as compared to Rs 23,471 crore in Q3 FY23. CASA ratio stood at 33% in Q3 FY24.

On the asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 1,339.68 crore as on 31 December 2023 as against Rs 1,018.85 crore as on 31 December 2022.

The ratio of gross NPAs to gross advances was at 1.98% as on 31 December 2023 as compared to 1.81% as on 31 December 2022. The ratio of net NPA to net advances stood at 0.68% as on 31 December 2023 as against 0.51% as on 31 December 2022.

Provisioning coverage ratio (PCR) remained stable at 72% (72% including technical write-off and floating provision).

Capital adequacy ratio (CRAR) was at 20.8% and tier I at 19.6% as on 31 December 2023.

During the quarter, the customer base using digital properties like “AU 0101” increased to 26 lakh from 16.3 lakh in Q2 FY23. Of these, 14 lakh customers have been availing services actively on monthly basis.

The Bank has expanded its presence, and its physical network is now spread across 1,049 touchpoints as on 31 December, 2023 across 21 states and 3 UTs

Sanjay Agarwal, MD & CEO, AU Small Finance Bank said, “Our performance in the current quarter has remained absolutely on track with deposit growth outpacing advances growth and margins remaining within our guided range. As a young Bank, we continue to invest in our franchise build-out, brand building and investing in our tech capabilities while continuing to deliver consistent returns to our stakeholders. I am happy that our proposed merger has received approvals from CCI and while we await RBI approvals, we remain excited about the diversification it can add to AU.”

AU Small Finance Bank (AU SFB/AU) is a scheduled commercial bank, a Fortune India 500 Company and the largest Small Finance Bank in the country.