AU Bank | AU Bank records record profit of Rs 425 cr in Q4 FY23

Lucknow: AU Bank has put in a strong performance on all parameters on the financial front in FY23. The bank has recorded a 32 per cent increase in deposits, 26 per cent growth in advances and 26 per cent growth in full year profit. AU Bank has seen a strong growth of 37 percent with 1,428 crore interest income (net interest) income. Highest ever quarterly profit of 425 crores has been registered in the fourth quarter of FY23. During this period the asset quality of the bank strengthened as GNPA came down to 1.66 per cent and Net NPA came down to 0.42 per cent. AU Bank’s board has recommended a dividend of Re 1 per equity share for FY23. While approving the re-appointment of various posts in the bank, the chairman R.B. V. Verma for the remainder of his tenure and MD & CEO Sanjay Agarwal for a period of three years and ED Uttam Tibrewal for a period of three years. ALSO READ Net NPAs come down to 0.4% Commenting on the performance, Sanjay Agarwal, MD & CEO, AU Small Finance Bank said that the bank has delivered yet another quarter and another year of consistent performance. Consistently performed on all parameters despite challenges of high interest rates due to inflation, liquidity. In a difficult market environment, we have managed to grow our deposit book while keeping our CASA ratio stable and making our deposit portfolio more diversified and retail. Our asset quality has also improved further this year, with net NPAs coming down to 0.4 per cent.