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AU Small Finance Bank’s net profit for the third quarter of the fiscal jumped up to ₹479.02 crore as against ₹190.19 crore a year ago.
For the quarter ended December 31, 2020, its net interest income surged by 25 per cent to ₹633 crore versus ₹507 crore a year ago.
Other income rose by 14 per cent to ₹184 crore in the quarter under review.
The bank’s provisions rose to ₹283.62 crore in the third quarter this fiscal from ₹40.1 crore a year ago.
Gross non-performing assets stood at one per cent of gross advances as on December 31, 2020 compared to 1.9 per cent as on December 31, 2019. Net NPAs stood at 0.2 per cent at the end of the third quarter this fiscal compared to one per cent a year ago.
“In the third quarter of the fiscal, AU Small Finance Bank restructured ₹ 251Cr (0.8 per cent of gross advances), mainly in the bus, taxi (within wheels) and schools, apparels. Overall restructured advances should stabilize at about 1.5 per cent of gross advances including a fresh restructuring that the bank may undertake in the fourth quarter this fiscal,” it said in a statement on Thursday.
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