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AU Small Finance Bank delivered a strong quarter. Profit After Tax (PAT) surged 37% YoY to ₹796 Cr, driven by a 32% rise in Net Interest Income (NII) and a 41% jump in core operating profit. Net Interest Margin (NIM) expanded 47 bps YoY to 5.9%. The bank's loan portfolio grew 23% YoY to ₹1.44 Lakh Cr, with deposits up 24% YoY to ₹1.58 Lakh Cr. Secured businesses led growth at 25% YoY. Asset quality improved, with slippages down 22%; Gross NPA is at 2.10% and Net NPA at 0.76%. Cost of funds declined to 6.48%.
The bank is actively implementing an AI-led tech strategy, including an AI-powered gold loan origination platform and a unified lead platform to boost efficiency. Product launches included zero forex margin for cross-border banking and four new credit cards. Leadership was strengthened and the bank added 130 new touchpoints. Management sees significant growth headroom, driven by a retail-focused, scalable business model, and "in-principle" approval for Universal Bank transition. Expect continued operating leverage and improving cost-to-assets.