Kolkata: AU Small Finance Bank reported a 37% increase in first-quarter net profit to ₹796 crore over ₹581 crore a year ago, backed by improved asset quality, normalisation of unsecured loans and healthy business growth.
The Jaipur-headquartered lender, which is transitioning to a universal bank, on Saturday also announced the elevation of chief operating officer Yogesh Jain to deputy chief executive officer to strengthen its leadership.
Its pre-provision operating profit rose 9% year-on-year to ₹1435 crore, supported by a 32% surge in net interest income to ₹2,695 crore while a 97% fall in treasury earnings pulled other income down 15% to ₹689 crore. Net interest margin for the quarter to June stood at 5.9%, up 47 basis points from the year-ago period.