AU Small Finance Bank Q2 net profit surges 34 pc to Rs 91 crore

New Delhi: AU Small Finance Bank on Saturday reported 33.95 per cent rise in net profit to Rs 91.41 crore for the second quarter of 2018-19.

The bank had reported a net profit of Rs 68.24 crore in the July-September period of 2017-18. The total income increased by 60.2 per cent to Rs 805.87 crore in the reported quarter as compared to Rs 502.88 crore in the year-ago period, it said in a regulatory filing.

"Last quarter we saw a continued strong up-tick in our disbursements, deposits, CASA, asset quality, rating, and an improvement in our cost to income ratio. The recent market events have once again placed Banks in a sweeter spot," AU Small Finance Bank MD and CEO Sanjay Agarwal said.

He added that going forward, the bank expects market share gain in retail assets and incremental deposits mobilisation.

"As we chase our USD 10 billion total assets target by FY22, we continue to focus on Data, Digital, Distribution and Delight," he added.

As on September 30, the bank's loan portfolio was at Rs 20,200 crore, up about 66 per cent year-on-year.

Net interest income for the second quarter was at Rs 321 crore, up about 46 per cent over the year-ago period.