Private lender Jana Small Finance Bank Ltd on Monday (October 21) reported a 21.3% year-on-year (y-o-y) decline in net profit at Rs 96.7 crore for the second quarter ended September 30, 2024. .
In the corresponding quarter of the previous financial year, Jana Small Finance Bank posted a net profit of Rs 122.8 crore, the bank said in a regulatory filing. Gross non-performing assets (NPA) stood at 2.97% in the September quarter, compared to 2.62% in the June quarter. Net arrears stand at 0.99%.
Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, rose 13% to Rs 594 crore from Rs 525 crore. .8 crore in the corresponding quarter of FY24.
Jana Small Finance Bank (SFB) reported that its loan assets under management (AUM) stood at Rs 26,411 crore in the second quarter, reflecting a year-on-year growth of 17%, with 65% of assets insured. Secured growth during the first half was 16%, while unsecured loans saw a decline of 7%.
Total deposits reached Rs 24,808 crore, an increase of 31% and a growth of 10% in the first half. CASA deposits increased by 28% year-on-year and 12% in the first half, standing at Rs 4,977 crore, with a CASA ratio of 20.1% in September 2024, up from 19.7% in March.
Time deposits grew 32% year-on-year and 10% in H1. The bank’s capital adequacy ratio (CAR) stood at 18.8%, with a Tier 1 CRAR of 17.8%, while its liquidity coverage ratio (LCR) remained strong at 261%. Including interim earnings for H1FY25, the CRAR is at 20.3% and the Tier 1 CRAR is at 19.3%. The bank’s cost-income ratio was 58.3%, return on assets (ROA) was 1.6% and return on equity (ROE) was 14.5%.
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The results were known after the close of market hours. Shares of Jana Small Finance Bank Ltd ended at ₹508.25, down ₹20.25, or 3.83%, on the BSE.
(Edited by: Shoma Bhattacharjee)
First published: October 21, 2024 17:53 IS
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