Kolkata: AU Small Finance Bank said its advances grew 24% year-on-year to Rs 65,029 crore at the end of September on steady credit demand, with deposit mobilisation outpacing loan growth.
AU said that its asset quality continues to follow the seasonal trend and remains within the range without giving specific numbers.
Deposit growth was at 30% year-on-year to Rs 75,743 crore. Its average cost of funds for the second quarter rose by 12 basis points quarter-on-quarter to 6.70% as against 6.58% in the preceding period.
The bank stated that domestic inflationary pressure was higher during the second quarter, while the monsoon progress remained below historical average for August. “This, coupled with global macro, ensured that the interest rates remained elevated, and the systemic liquidity continued to remain tight,” it said.
The bank securitized loan portfolio of Rs 2,922 crore in the period under review, taking the total securitised book to Rs 6,591 crore.
