Total Income was Rs 508 crore, up 41% and PAT was Rs 68 crore for Q2FY18 as against Rs 62 crore in Q1FY18.
“Q2 was the first full quarter of operations as a bank and we believe that following the establishment of over 300 branches in last few months, our cost base can be expected to start improving over next few quarters.
“Despite higher costs, we delivered annualized return on assets at 1.8% and return on equity at 13.1%. both of these metrics could be expected to expand as the business grows as per plan,” said Sanjay Agarwal, MD & CEO.
Gross AUM at the end of September surged by 30% Y-o-Y to Rs 12,134 crore, led by growth in all segments of retail and wholesale banking operations. Retail loans now exceed Rs. 10,000 crore, comprising ~85% of loan book, it said.
Disbursements clocked growth of 29% in H1 to exceed Rs. 4,000 crore in H1; surpassed Rs. 2,500 crore during Q2. All segments of retail assets witnessed strong growth in Q2; Wheels, MSME, SME Y-o-Y disbursements grew 23%, 43% and 8% respectively.
NBFC disbursements up 90% in wholesale bank.
It raised total deposits of Rs 1,164 crore during Q2 at incremental cost of funds 6.7%.
Deposits of Rs. 1,978 crore have been raised after transitioning into a bank on April 19, 2017. Over 175,000 deposit accounts, including 156,000 CASA accounts, opened in this short period of which 82% were new relationships for the bank.
Gross NPA was at 3.1% and Net NPAs of 2.1% (both on book), with provision coverage at 32.8% as on September 30, 2017.