Net interest income (NII) stood at Rs 1,337 crore in Q4 FY24, up 10%. Net interest margin (NIM) stood at 5.1% in Q4 FY24.

Pre-provisioning profit in Q4 FY24 was at Rs 571 crore, registering a growth of 16%YoY. Provisions soared 387.06% YoY to Rs 158.93 crore in Q3 FY24.

The bank's total deposits increased 26% YoY to Rs 87,182 crore. CASA deposits increased by 9% YoY to Rs 29,126 crore compared to Rs 26,660 crore in Q4 FY23; CASA ratio was at 33% and CASA and Retail deposits stood at 64%.

In Q4 FY24, gross advances increased by 25% YoY to Rs 73,999 crore. Of the total advances, Vehicle Loan contributes 30% and Micro Business Loans (MBL), Home Loan as well as Commercial Banking Loans contribute 28%, 8% and 25% respectively. Cost of funds stood at 7% in Q4 FY24 as against 6.3% in Q4 FY23.

On the asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 1,237.40.crore as on 31 March 2024 as against Rs 981.31 crore as on 31 March 2023.

The ratio of gross NPAs to gross advances was at 1.67% as on 31 March 2024 as compared to 1.66% as on 31 March 2023. The ratio of net NPA to net advances stood at 0.55% as on 31 March 2024 as against 0.42% as on 31 March 2023.

Provisioning coverage ratio (PCR) remained stable at 76%. Bank is carrying provisions of Rs 111 crore towards standard restructured book and floating provisioning

Post receiving RBI approval on March 4, 2024, the merger of Fincare SFB with and into AU SFB became effective from April 1, 2024, and Some key numbers on a proforma merged basis as on 31st March 2024, Deposits of profoma merged stood at Rs 97,704 crore Gross loan portfolio was Rs 96,460 crore and cost of fund on merged basis stood at 7.1%.

Meanwhile, the company’s board has declared a dividend of Rs 1 per share out of net profit for the financial year ended March 31, 2024.

Sanjay Agarwal, Founder, MD & CEO, of AU Small Finance Bank, said, “Our performance in the current quarter has remained absolutely on track with deposit growth outpacing advances growth, margins broadly remaining within our guided range and asset quality continuing to be robust.

I am happy that our merger with Fincare has received all regulatory approvals in record time, and we are now operating as a merged entity. We now have 2,383 physical touchpoints across India and apart from a brick-and-mortar presence, we have a body and soul present in all these locations, giving us an extensive network which ensures we're closer to our customers than ever before and fast forwards our distribution build-out by many years.”

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.