AU Small Finance Bank Q2 profit jumps 53% to Rs 858 crore
AU's gross non-performing assets ratio fell 42 basis points (bps) to 1.99% at the end of September. This helped in 25% lower provision at Rs 359 crore against Rs 481 crore. Net NPA ratio improved by 7 bps to 0.81%. Annualised credit cost improved by 45 bps to 0.8% from 1.2% over the year.
Kolkata: AU Small Finance Bank reported a 53% surge in second-quarter net profit to Rs 858 crore from Rs 561 crore in the year-ago period, helped by business expansion and an improvement in asset quality.The bank's net interest margin—a key profit metric—rose to 5.8% for the quarter from 5.5% in the year-ago period.AU's gross non-performing assets ratio fell 42 basis points (bps) to 1.99% at the end of September.
