AU Small Finance Bank Ltd was originally incorporated as L.N. Finco Gems Private Limited on 10 January 1996 as a private limited.
AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India. It was founded as vehicle finance company AU Financiers Ltd in 1996 and converted to a small finance bank on 19 April 2017.
The Bank has posted its Q1FY23 financial results today, the details are as below :
(I) Unaudited Consolidated Financial Results for Quarter Ended (QOQ comparison):
The company has reported, a consolidated Total Income of ₹1,979.34 crore in the quarter ended on June 30, 2022 as against ₹1,978.40 crore in the last quarter ended on Mar 31, 2022, slightly increased by 0.04%.
The company has posted a consolidated Net Profit of ₹267.86 crore in the quarter ended on March 31, 2022 as against ₹346.07 crore in the previous quarter ended on June 30, 2022. The PAT surges down by 22.6%.
The status of the EPS of the company stood at ₹4.22 as on March 31, 2022 compared to the previous quarter ended on June, 2022 which was ₹5.46, down by 22.71%.
|₹*||June 30, 2022 (Q1FY23)||Mar 31, 2022 (Q4FY22)|
|Total Tax /(credit)||87.83||43.03|
|PAT /(Loss) [to the owners]||267.86||346.07|
(I) Unaudited Consolidated Financial Results for Quarter Ended (YoY comparison):
The company has reported, a consolidated Total Income of ₹1,979.34 crore in the financial year ended on June 30, 2022 as against ₹1,568.24 crore for the same quarter ended on last year June 30, 2021 that increased by 26.21%.
The company has posted a consolidated Net Profit of ₹267.86 crore in the financial year ended on June 30, 2022 as against ₹203.19 crore for the same quarter ended on last year June 30, 2021. The PAT surges up by 31.82%.
The status of the EPS of the company stood at ₹4.22 as on June 30, 2022 compared to the quarter ended on last year June 30, 2021 which was ₹3.22, up by 31.05%.
|₹*||June 30, 2022 (Q1FY23)||June 30, 2021 (Q1FY22)|
|Total Tax /(credit)||87.83||274.65|
|PAT /(Loss) [to the owners]||267.86||203.19|
(III) Key Highlights about the Performance :
• Bank’s total balance sheet grow by 38% YoY to ₹ 71,041 Crore
• Deposits grow by 48% YoY to ₹ 54,631 Cr; CASA at 39% in Q1FY23 as against 26% as on 30-Jun’21 (Q1FY22)
• Cost of Funds stable QoQ and declined by 57 bps YoY to 5.7%
• Loan AUM grew by 37% YoY to ₹ 50,161 Cr; CD ratio at 89%
• 90% of loan book is retail in nature and 94% is Secured
- ROA stood at 1.5% and ROE at 14.0% even as we invest significantly in people, digital, branding, products and distribution to build a future ready bank
- Net Interest Margin (NIM) at 5.9%
- Incremental spreads remained stable at 6.9% as the increase in disbursement yields
- offset the increase in incremental borrowing cost
Digital and Payment business
• The Bank’s digital properties like AU 0101, Video Banking, Credit cards, UPI QR etc. continue to see strong momentum
• During the quarter the Bank has issued 80k+ credit cards and installed 1.7 Lac+ QR codes
• In all, we have 2.4 Lac+ credit cards outstanding of which over 42% of the customers are first time credit card users in more than 150+ districts of the country
• 1.5 Lac+ Savings Account opened digitally via Video Banking since launch earlier this year and total relationship value of these accounts now at ₹ 700+ Cr
Other key updates
• The Bank has expanded its presence to 34 new touchpoints and its physical network is now spread across 953 touchpoints as on June 30, 2022 across 20 states and 2 UTs
• CRISIL Ratings has upgraded the long-term rating of the Bank to ‘CRISIL AA/Stable’ from
CRISIL AA-/Positive’. The rating on Short-term Instruments (Certificate of Deposits) of the Bank has been reaffirmed at CRISIL A1+
• AU Bank received “Golden Peacock Award” for CSR
(IV) Asset Quality and CAR :
Bank’s Asset quality improved significantly on YoY basis with GNPA at 1.96% vs 4.31% as on 30-Jun’21. Net NPA stood at 0.56% of net advances as against 2.26% as on 30-Jun’21. Provision coverage ratio at 72% against 49% as on 30-Jun’21; Including technical writeoffs, the PCR was at 74% Collection efficiency averaged 105% for Q1FY23.
Total CAR at 19.4% against minimum requirement 15%; adding the interim profits, CRAR would be 20.0%. Tier-I capital ratio of 18.4% against minimum requirement 7.5%; adding the interim profits, Tier-I capital adequacy would be 19.1%.
|Gross NPA ₹*||969.61||924.37||1,495.94|
|Gross NPA %||1.96||1.98||4.31|
|Net NPA ₹*||274.83||230.84||765.98|
|Net NPA %||0.56||0.50||2.26|
The stocks of AU Small Finance Bank last hit in BSE,
- Intraday High of ₹ 568.70
- Intraday low of ₹ 545.70