Mumbai, May 30, 2019: Fincare Small Finance Bank announced its audited financial results for the year ended 31st March 2019 today. It is one of the 10 entities to have received in-principle approval from RBI in 2015 and commenced banking operations in July 2017.
Key Highlights
| · Annual net profit is at ₹ 101.98 Cr (grew by 205%)
· Total business of the Bank registered a growth of 95% to reach ₹ 5,573.4 Cr · Deposits recorded a growth of 181% to reach ₹ 2,043.2 Cr · Asset quality improved substantially with GNPA at 1.29% and NNPA at 0.34% · Gross Loan Portfolio recorded a growth of 65% to reach ₹ 3,530 Cr · New business added during the year – assets side two-wheeler loans and liabilities side NRE fixed deposits, Recurring Deposits and Corporate Salary accounts · Total Bank Banking Outlets added during the year 111 · Total no. of customers grew 50% to over 1.5 million · No. of employees grew 24% to 5,498 · Net Interest Income at 10.8% · Disbursement grew 56 %
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| Commenting on the results and financial performance, Mr. Rajeev Yadav, Managing Director & CEO, Fincare Small Finance Bank said, “The results are a reflection of our continued efforts on profitable growth and diversification. We have made considerable progress during this year in growing our secured assets business, and in building a strong liabilities franchise, as is evident from the growth in both the businesses. Secured assets now comprise almost 20% of our gross loan portfolio. The Bank’s profits have recorded a growth of over 200%, while maintaining good asset quality. With this, we reiterate our commitment to serve the unbanked and underbanked communities in their path towards financial inclusion.
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OPERATING REVIEW
Total Business
The total business of the Bank grew by 95% Y-o-Y from ₹ 2,862 Cr as on 31st March 2018 to ₹ 5,573 Cr as on 31st March 2019.
Credit Growth
Gross Advances at ₹ 3,530 Cr as on 31st March 2019 from ₹ 2,135 Cr as on 31st March 2018 registered a growth of 65%. The Bank’s microloans portfolio grew by 56% to reach ₹ 2,839 Cr as on 31st March 2019 from 1,817 Cr as on 31st March 2018. The Secured loans portfolio registered a growth of 216 % from ₹ 218 Cr as on 31st March 2018 to ₹ 689 Cr as on 31st March 2019.
Deposit Growth
Deposits recorded a growth of 181% to reach ₹ 2,043 Cr as on 31st March 2019 from ₹ 727 Cr as on 31st March 2018. The low-cost CASA segment grew by 609% to reach ₹ 224 Cr as on 31st March 2019. Retail deposits, that is deposited under ₹ 2 Cr, accounted for 37% of the overall deposit base.
Net Profit
The Bank has recorded its highest ever annual net profit of ₹ 101.98 Cr (grew by 205%).
Asset Quality
The Gross NPA of the Bank as on 31st March 2019 stood at 1.29% and the Net NPA at 0.34%. The Provision Coverage Ratio (including technical write-offs) stood at 73.6% as on 31stMarch 2019.
Capital Adequacy & Net worth
The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel II guidelines stood at 23.62% as on 31st March 2019. The Net Worth of the Bank is ₹ 653.4 Cr as on 31st March 2019.
DEPOSIT INTEREST CHART
FD Rates:
| Tenure | General Public | Senior Citizen |
| 7 days-45 days | 4.00% | 4.50% |
| 46 days-90 days | 4.00% | 4.50% |
| 91 days-180 days | 6.00% | 6.50% |
| 181 days – 364 days | 7.00% | 7.50% |
| 12 months to 15 months | 8.00% | 8.50% |
| 15 months 1 day to 18 months | 8.25% | 8.75% |
| 18 months 1 day to 21 months | 8.50% | 9.00% |
| 21 months 1 day to 24 months | 8.75% | 9.25% |
| 24 months 1 day to 36 months | 9.00% | 9.50% |
| 3 years 1 day to 5 years | 8.00% | 8.50% |
| 5 years 1 day to 7 years | 7.00% | 7.50% |
RD Rates:
| Tenure | General Public |
| 7 days-45 days | 4.00% |
| 46 days-90 days | 4.00% |
| 91 days-180 days | 6.00% |
| 181 days – 364 days | 7.00% |
| 12 months to 15 months | 8.00% |
| 15 months 1 day to 18 months | 8.25% |
| 18 months 1 day to 21 months | 8.50% |
| 21 months 1 day to 24 months | 8.75% |
| 24 months 1 day to 36 months | 9.00% |
| 3 years 1 day to 5 years | 8.00% |
FOOTPRINT
The Bank has 570 banking outlets, and 71 Cash Recyclers as on 31st March 2019.
Corporate Comm India(CCI Newswire)
