New Delhi, July 23rd, 2024: The Board of Directors of Jana Small Finance Bank Limited at its meeting today, approved the unaudited financial results for the first quarter ending June 30, 2024.
Key Highlights for Q1 FY25
• Loan AUM stands at ₹25,759 crore, growing by 25% y-o-y
o Advances growth of 25% y-o-y and 4% q-o-q
o Secured q-o-q growth 8%; Unsecured q-o-q growth (1%)
o Now secured book at 62% vs 60% in Mar-24
• Total Deposits stands at ₹23,710 crore
o Deposits growth of 41% y-o-y and 5% q-o-q
o CASA deposits stand at ₹4,846 crore, increasing by 47% y-o-y and 9% q-o-q
o TD growth of 40% y-o-y, 4% q-o-q
o CASA ratio stands at 20.4% as at June-24 increased from 19.7% in March-2024
• Capital Adequacy at 19.3% with Tier-1 CRAR of 18.2%. Strong liquidity with LCR of 296%
• Considering interim profit for Q1 FY25, CRAR is 20.2% and Tier-1 CRAR is 19.1%
• Profit after tax (PAT) stood at ₹171 crore in Q1 FY25 as compared to ₹90 crore in Q1 FY24 registering a growth of 89% y-o-y
• Cost Income ratio at 55.5%, ROA at 2.1% and ROE at 18.8%
• GNPA at 2.5% slight increase is event driven and seasonal
• PAT of Rs. 171 crores after creating for an additional buffer provision of Rs. 54 crores and adding DTA of Rs 10 crores
Commenting on the performance, Mr. Ajay Kanwal, MD and CEO, Jana Small Finance Bank said: “Jana Small Finance Bank (Jana SFB) delivered a solid quarter growing secured assets and deposits with focus on CASA. We have small rise in GNPA which we believe is seasonal and event driven, this will nevertheless get our full attention in the following quarters. We continue to serve aspirational India across 24 states with aim of becoming an anchor Bank to our customers”
| Particulars (in ₹ Crore) | For Quarter ended | |
| Q1 FY25 | Q1 FY24 | |
| Net Interest Income | 610 | 462 |
| Non-Interest Income | 189 | 188 |
| Total Income | 799 | 650 |
| Opex | 443 | 377 |
| Operating Profit | 356 | 273 |
| Provision (Other than Taxes) | 196 | 183 |
| PBT | 160 | 90 |
| Tax Expense (Credits) | (10) | 0 |
| PAT | 171 | 90 |
Key Ratios Highlights:
| Particulars | For Quarter ended | |
| Q1 FY25 | Q1 FY24 | |
| CASA to Total Deposit (%) | 20.4% | 19.6% |
| Net Interest Margin (Annualised) | 8.0% | 7.6% |
| Cost to Income Ratio | 55.5% | 58.0% |
| Return on Average Assets (Annualised) | 2.1% | 1.4% |
| Return on Average Equity (Annualised) | 18.8% | 18.3% |
| Capital Adequacy Ratio (CAR) | 19.3% | 18.7% |
| Gross NPA (%)* | 2.5% | 2.7% |
| Net NPA (%)* | 0.95% | 1.09% |