AU Small Finance Bank PAT rises to Rs 68 cr in Jul-Sept

AU Small Finance Bank today said its profit after tax rose to Rs 68 crore in July-September 2017 from Rs 62 crore in the same quarter of last year.
Total income of the bank rose by 41 per cent on yearly basis to Rs 508 crore in the second quarter of FY2017-18, it said in a release.
Net interest income increased by 12 per cent to Rs 220 crore in the quarter. The bank raised deposits of Rs 1,164 crore in the three months to September.
"The quarter 2 was the first full quarter of banking operations resulting in Cost to Income Ratio to increase to 54.6 per cent which is expected to start improving as operational efficiency kicks in over medium term," the release said.

Following transition from NBFC to Small Finance Bank and commencement of banking operations on April 19, 2017, AU Bank has rapidly developed a network of 303 branches, 113 asset centres, 23 offices and 287 ATMs in 11 states and 1 union territory in North, West and Central India as on September 30, 2017, the release said.
Gross asset under management surged by 30% Y-o-Y to Rs 12,134 crore as on September 30, 2017 led by growth in all segments of retail and wholesale banking operations.

Retail loans now exceed Rs 10,000 crore, comprising 85% of loan book, the bank said.

Disbursements clocked growth of 29 per cent in the first half of FY2018 to exceed Rs 4,000 crore.
Loan disbursements surpassed Rs 2,500 crore during the second quarter driven by wheels, MSME, SME segments.
Shares of the bank rose over 1 per cent to close at Rs 587.50 on BSE today.