AU Finance

AU Small Finance Bank (SFB) on Wednesday reported a 23 per cent rise in its net profit at Rs 343 crore in the July-September quarter on healthy growth in loan disbursals aided by consistent fall in bad loans. The Jaipur-based lender had posted a net profit of Rs 279 crore in the same period in the year ago fiscal year. Bank's net interest income (interest earned minus expended) grew by 44 per cent to Rs 1,083 crore during July-September period of 2022-23, as against Rs 753 crore in same period of 2021-22, AU SFB said in a regulatory filing. Total income of the bank was up by 40.3 per cent at Rs 2,240 crore as against Rs 1,597 crore. Gross advances of the lender rose to Rs 52,452 crore as of Q2FY23 as against Rs 36,405 crore during the same period a year ago, with auto, MSME and home loans accounting for 75 per cent of the component. Disbursements during the quarter stood at Rs 8,605 crore as against Rs 5,061 crore. "The operating environment in Q2FY23 saw uncertainty over inflati

AU Finance is the third small finance bank (SFB), after Equitas and Ujjivan, to go in for an IPO