Small finance banks (SFBs) saw higher growth in their deposits as compared to gross advances on a year-on-year basis in the quarter ended September, provisional data released by six banks showed. The gross advances rose 16.8% y-o-y while the growth in total deposits was higher at 17.2%, the average of estimates of six small finance banks showed.

However, on a sequential basis, the growth in loans was higher as compared to the deposits, data showed. This was largely on the back of growth in the retail and micro, small and medium enterprise segments.

Individual bank performance highlights

AU Small Finance Bank expects a 22.4% y-o-y growth in gross advances to Rs 1.17 lakh crore as on September 30, according to provisional figures. Deposits are expected to rise by nearly 21%.

Suryoda

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