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AU Small Finance Bank gains 5% after Q4 deposits rise 34%, NPA remain stable

April 07
19:04 2020

Shares of AU Small Finance Bank gained 5 percent intraday on April 7 after the company reported a 34 percent increase in its deposits with stable asset quality performance.

As per its unaudited partial results, the bank’s deposits grew by 9 percent to Rs 26,163 crore in the quarter ended March 2020, against Rs 23,865 crore in December ended quarter, while the year-on-year increase was 34 percent.

“During FY20, the bank continued its thrust on building a granular, retail, low-cost deposit franchise,” AU SFB said in its BSE filing.

Disbursements for FY20 rose around 17 percent over FY19 led by higher around 28 percent growth in retail disbursements, it added.

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Total balance sheet assets at the end of March quarter were Rs 42,346 crore, registering 29 percent year-on-year and 10 percent QoQ growth.

Retail assets under management grew by 38 percent YoY and 7 percent sequentially to Rs 26,131 crore at the end of March quarter.

Total loan assets reached to Rs 31,133 crore with an annual growth of around 28 percent and sequential growth of 4 percent, company said.

On a sequential basis, the bank’s gross NPA ratio stood at 1.9 percent in March quarter against 1.88 percent in December quarter, while net NPA ratio improved to 0.97 percent from 1.01 percent in quarter ended December 2019.

The provisional coverage ratio improved to 49 percent in the January-March quarter, from 46.80 percent in the December quarter, while the liquidity coverage ratio stood at around 137 percent as of March 2020.

On March 31, 2020, the bank said it had surplus liquidity of Rs 4,900 crore.

During Q4FY20, the bank sold PSL certificate amounting to Rs 5,710 crore and for FY20, the aggregate PSL Certificate sold amounting Rs 15,505 crore, it said.

The stock was trading at Rs 473.45, up 1.38 percent on the BSE at 1340 hours IST.

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