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Today: Jun 13, 2024

AU Small Finance Bank: 20% Boost in Advances, 31% Surge in Deposits!

1 min read

Key Points:

  • AU Small Finance Bank reported a 20% YoY growth in gross advances in Q3FY24.
  • Advances growth was driven by the retail assets group and commercial banking group.
  • The bank’s overall deposits grew by 31% YoY, crossing the ₹80,000 crore mark.
  • CASA deposits increased by 13% YoY.
  • The bank saw more than 2.5 million registrations on its digital banking platform.
  • The credit card vertical had a monthly run rate of 50,000 cards and more than 8.3 lakh live credit cards.
  • 70,000 savings accounts were opened via video banking in Q3FY24.

AU Small Finance Bank has reported strong growth in its advances and deposits for the third quarter of FY24. Gross advances rose by 20% YoY, driven by growth in the retail assets group and commercial banking group. The bank’s overall deposits crossed the ₹80,000 crore mark, growing by 31% YoY. CASA deposits increased by 13% YoY. The bank also saw success in its digital banking initiative, with over 2.5 million registrations and a monthly run rate of 50,000 credit cards.