AU Small Finance Bank on Tuesday reported a 9.6 per cent increase in its deposits at Rs 26,163 crore during the fourth quarter ended March 2020.
The small finance bank had deposit base of Rs 23,865 crore in the previous quarter of the current fiscal, AU Small Finance Bank said in a statement.
During the quarter, retail asset of the bank rose to Rs 26,131 crore from Rs 24,302 crore registering a growth of 7 per cent,
"The bank continues to have an unwavering focus on doing small ticket secured loans primarily for income generation and productive purposes. about 98 per cent portfolio is secured by collaterals which is predominantly a key income generating asset for the customers," it said.
It further said the capital adequacy ratio of the bank improved to 21.25 per cent at the end of March as against 19.28 per cent in December 2019.
Jaipur-based bank mobilised Rs 1,000 Crore through refinance from NABARD and SIDBI during March, it added.
A small finance bank is primarily set up to undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections, including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
The objectives of setting up of SBFs is to further financial inclusion and supply of credit "through high technology-low cost operations.
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