AU Small Finance Bank has reported results for first quarter ended June 30, 2024 (Q1FY25).
The bank has reported 29.90% rise in net profit at Rs 502.57 crore for Q1FY25 as compared to Rs 386.90 crore for the same quarter in the previous year. Total income of the bank increased by 55.57% at Rs 4314.70 crore for Q1FY25 as compared to Rs 2773.46 crore for the corresponding quarter previous year.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.