GNPA improved to 2.0% as of March 31, 2024, as against 3.6% as of March 31,2023
FinTech BizNews Service
Mumbai, April 29, 2024: Jana Small Finance Bank announced its audited financial results for the fourth quarter and financial year ending March 31, 2024.
Key Highlights for FY24:
· Net Interest Income has grown to Rs2,127 crore in FY24 vs Rs1,660 crore in FY23, up by 28.1% YoY
· Loan AUM stands at Rs24,746 crore, growing by 24.9% YoY o Secured book grew by 33% YoY o Affordable Housing book grew more than 57% YoY o Micro LAP loan book grew by 40% YoY o Two-wheeler book has increased by 107% YoY o Unsecured book grew by 14% YoY
· Total Deposits stand at Rs22,571 crore, growing by 38% YoY o CASA deposits stand at Rs4,447 crore, increasing by 35% YoY o CASA ratio stands at 20% as at March-2024
· Profit after tax (PAT) stood at Rs670 crore in FY24 as compared to Rs256 crore in FY23, registering a growth of 162% YoY. PAT for FY24 considers Rs155 crore of DTA recognized in Q4-FY24
· GNPA improved to 2.0% as of March 31, 2024, as against 3.6% as of March 31,2023
· NNPA improved to 0.5% as of March 31, 2024, as against 2.4% as of March 31,2023
· PCR at 74% as of March 31, 2024
· NIM% improved to 8.0% in FY24 as against 7.8% in FY23
· ROA & ROE for FY24 stands at 2.4% and 26.9% respectively. ROA & ROE adjusted for DTA is at 1.8% and 20.7% respectively.
Commenting on the performance, Mr. Ajay Kanwal, MD and CEO, Jana Small Finance Bank
said: “Our transformation to a customer led franchise serving aspirational India is showing
strong acceptance and success. We continue to focus on meeting the needs of the
underserved, from deposits to loans, with optionality of fully digital processes across all
products. Our risk diversification has resulted in 60% of our loan book being classified as
secured, primarily in the Home Loan and Loan Against Property (LAP) products. We foresee a
huge opportunity for our business model and will strive to continue on this path with high
standards of governance and customer service”.
