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Deposit mobilization may lag growth
View Risks →AU Small Finance Bank Limited — Q1 FY24
AU Small Finance Bank reported Q1 FY24 PAT of INR 387 crore, up 44% YoY, driven by strong asset growth (gross advances +29% YoY) and stable asset quality.
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AU Small Finance Bank reported Q1 FY24 PAT of INR 387 crore, up 44% YoY, driven by strong asset growth (gross advances +29% YoY) and stable asset quality. Deposits grew 27% YoY to INR 69,315 crore, but sequentially flat as the bank consumed excess liquidity and cut deposit rates by 25 bps. NIM contracted 38 bps QoQ due to deposit repricing and liquidity drag, with management guiding for a further 10 bps spillover. Credit cost guidance remains similar to FY23 levels, with GNPA at 1.76% (up 10 bps QoQ, seasonal). The bank is investing in credit cards, digital, and transaction banking, expecting these to yield profitability from FY25. Key risk: deposit mobilization may lag if rate cuts reduce competitiveness, constraining asset growth.
AU स्मॉल फाइनेंस बैंक ने पहली तिमाही में 387 करोड़ रुपये का मुनाफा कमाया, जो पिछले साल से 44% ज्यादा है। यह बढ़ोतरी लोन देने में तेजी (29% ज्यादा) और कर्ज की गुणवत्ता स्थिर रहने से हुई। जमा 27% बढ़कर 69,315 करोड़ रुपये हुए, लेकिन पिछली तिमाही से नहीं बढ़े क्योंकि बैंक ने अतिरिक्त नकदी खर्च की और जमा पर ब्याज दर 0.25% घटा दी। ब्याज कमाई का अंतर 0.38% घटा, जो जमा की लागत बढ़ने और नकदी रखने से हुआ। आगे 0.10% और गिरावट हो सकती है। खराब कर्ज 1.76% है, जो मौसमी कारणों से थोड़ा बढ़ा। बैंक क्रेडिट कार्ड और डिजिटल सेवाओं में निवेश कर रहा है, जिससे 2025 से मुनाफा होने की उम्मीद है। खतरा: अगर ब्याज दरें गिरीं तो जमा जुटाना मुश्किल हो सकता है।
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Gross Advances
INR 63,635 crore
+29% YoY
Total gross advances grew 29% year-on-year, driven by strong credit demand across segments.
CASA Ratio
35%
-3pp YoY
CASA ratio declined to 35% from 38% a year ago due to outflow from large government accounts.
Credit Cards Live
6 lakh+
+54% YoY
Live credit cards crossed 6 lakh, with monthly spends exceeding INR 1,250 crore in June 2023.
AU 0101 Registered Customers
21 lakh
+90% YoY
Digital platform AU 0101 now has 21 lakh registered customers, with 74% active in Q1.
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Guidance and risk preview
Management targets profitability and return ratios similar to FY23, despite margin pressure, supported by fee income growth.
Despite cutting deposit rates, sequential deposit growth was flat; if deposit accretion does not pick up, asset growth may be constrained.
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