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AU Small Finance Bank reported a 105 per cent surge in its net profit in the fourth quarter of the fiscal year to Rs 346.07 crore from Rs 168.97 crore a year ago.
However, for the full fiscal 2021-22, the bank’s net profit declined by 3.5 per cent to Rs 1,129.83 crore from Rs 1,170.68 crore in 2020-21.
For the quarter ended March 31, 2022, its net interest income increased 43 per cent to Rs 937 crore as against Rs 656 crore in the fourth quarter of 2020-21.
The net interest margin was 6.3 per cent in the fourth quarter of last fiscal, as against 5.7 per cent in the previous fiscal.
Other income increased by nearly 26 per cent year-on-year to Rs 311.37 crore in the fourth quarter of 2021-22.
Provisions declined by 37.1 per cent to Rs 93.22 crore in the January to March 2022 quarter, versus Rs 148.3 crore a year ago.
The bank’s asset quality improved significantly, with gross non-performing assets at 1.98 per cent as on March 31, 2022, versus 4.25 per cent as on March 31, 2021.
Net NPAs stood at 0.5 per cent of net advances as on March 31, 2022, as against 2.18 per cent as on March 31, 2021.
The bank also registered its highest ever quarterly disbursement of ₹ 10,295 crore, which was 39 per cent higher on a year-on-year basis.
The board has also approved a proposal to increase authorised capital to Rs 1,200 crore from Rs 350 crore , subject to approval by the shareholders.
“To celebrate the successful completion of five years of banking operations and with a view to express gratitude to our shareholders, the board at its meeting held on April 26 has considered and recommended a bonus issue of one equity share for every one equity share held, subject to approval by the shareholders and any other applicable statutory and regulatory approvals,” AU SFB said on Tuesday.
The board has also recommended dividend of Re 1 per equity share (10 per cent of face value) on pre-bonus share capital out of net profit for the year ended March 31, 2022, subject to shareholders’ approval at the ensuing AGM. Consequent to approval, the dividend will be adjusted proportionately, that is Rs 0.50 per equity share (5 per cent of face value) on post-bonus share capital.
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