Jana Small Finance Bank is preparing to take the next big step in its journey by aiming for a universal banking license. In a strategic move, the bank has ramped up provisions to align with the Reserve Bank of India’s stringent norms, keeping its Gross Non-Performing Assets (GNPA) below 3 per cent and Net Non-Performing Assets (NNPA) under 1 per cent. With accelerated provisions totaling Rs 208 crore over the past nine months, Jana Small Finance Bank is gearing up to apply for the license next year.
Q3 FY2025 Performance Highlights
- Net Profit: Rs 110.6 crore- down 17.8 per cent Year-Over-Year (YoY)
- Net Interest Income (NII): Rs 593 crore (up 8.1 per cent YoY)
- Assets Under Management (AUM): Rs 27,984 crore (up 19 per cent YoY, with 68 per cent secured assets)
Ajay Kanwal, Managing Director (MD) and Chief Executive Officer (CEO), Jana Small Finance Bank, highlighted the bank’s strategic progress, stating, “Credit quality is improving and secured assets are growing strong. Retail CASA remains a key focus for sustained growth.”
The bank’s focus on maintaining robust credit quality and expanding its secured asset base reflects its commitment to long-term stability. With a 19 per cent YoY growth in AUM, driven by a majority of secured loans, Jana Small Finance Bank is reinforcing its portfolio to meet the Reserve Bank of India’s compliance standards.
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