AU Small Finance Bank Q1 net rises 37% to ₹796 crore

Synopsis

AU Small Finance Bank saw net profit rise thirty-seven percent to ₹796 crore. This growth was driven by better asset quality and healthy business expansion. Pre-provision operating profit increased nine percent year-on-year to ₹1435 crore. Net interest income surged thirty-two percent, boosting overall financial performance. The bank also announced Yogesh Jain's elevation to deputy chief executive officer.

Kolkata: AU Small Finance Bank reported a 37% increase in first-quarter net profit to ₹796 crore over ₹581 crore a year ago, backed by improved asset quality, normalisation of unsecured loans and healthy business growth.

The Jaipur-headquartered lender, which is transitioning to a universal bank, on Saturday also announced the elevation of chief operating officer Yogesh Jain to deputy chief executive officer to strengthen its leadership.

Its pre-provision operating profit rose 9% year-on-year to ₹1435 crore, supported by a 32% surge in net interest income to ₹2,695 crore while a 97% fall in treasury earnings pulled other income down 15% to ₹689 crore. Net interest margin for the quarter to June stood at 5.9%, up 47 basis points from the year-ago period.