While announcing its Q4FY22 results, the board of directors had recommended the issuance of bonus equity shares in the ratio of 1:1. The record date has been set for Friday, June 10th, 2022. Further, the bonus shares will be credited to those shareholders who are holding the equity shares as on a record date to be determined by the Board.
"To celebrate successful completion of 5 years of the Banking operations, the Board considered and recommended a bonus issue of 1 equity share for every 1 equity share held, subject to approval by the shareholders and any other applicable statutory and regulatory approvals," AU Small Finance Bank had said in an exchange filing.
The Bank's net profit for the March quarter more than doubled to ₹346 crore, driven by margin expansion, record loan sales and lower provisioning for impaired assets. Its net interest income (NII), difference between interest earned and interest expended, was up 43% year-on-year to ₹936 crore for the March quarter.
Deposits grew 19% to ₹52,585 crore in the quarter and 46% on-year from ₹35,979 crore, of which the low-cost CASA (Current Accounts Savings Account) rose to 37% from 23% a year ago. The bank has issued over 1.7 lakh credit cards since it entered this unsecured vertical earlier in the year.
During the quarter, the bank opened 39 new touch points in the form of asset centres, bank branches and outlets, taking the total network to 919.
AU Small Finance Bank shares are down over 38% in a year's period whereas the bank stock has declined more than 42% in 2022 (YTD) so far.
