Unity Small Finance Bank Q4 Results: PAT at Rs 143 crore; NII rises 55% YoY

economictimes.indiatimes.com:

Unity Small Finance Bank has earned a net profit of Rs 143 crore for the March quarter against a loss of Rs 52 crore in the year ago period, backed by 55% rise in net interest income.

The bank, promoted by Centrum Financial Services, said its net interest margin was at 10.8%. Its operating profit soared nearly four-fold at Rs 147 crore against Rs 37 crore in the year-ago quarter.

For the full financial year 2023-24, Unity's net profit stood at Rs 439 crore against Rs 35 crore in the preceding fiscal.

The bank grew its net advances portfolio by 78% year-on-year to Rs 7961 crore at the end of March while deposit mobilisation jumped 142% to Rs 6505 crore. number of branches. It expanded the physical presence during the year with the number of banking outlets rising 15% to 377.

During the quarter under review, it introduced unsecured personal loans for salaried and self-employed individuals.
Unity Bank said it remains committed to increase investments in technology and plans to roll out several digital offerings during the year. The bank also plans to run a pilot for its credit card business with the introduction of several card variants.

It carries adequate growth capital with capital adequacy ratio being at 36.4%. It has a well-funded balance sheet with shareholders' funds at a healthy Rs 1,907 crore.