Press Release
Jana Small Finance Bank reports highest ever FY24 PAT; PBT Increased by 101% to ₹514 crore & PAT Increased by 162% to ₹670 crore
ROE of 26.9% and ROA of 2.4%, NNPA down to 0.5% and PCR at 74% in Mar’24
Bengaluru, April 29 th , 2024: The Board of Directors of Jana Small Finance Bank Limited at its meeting today, approved the audited financial results for the fourth quarter and financial year ending March 31, 2024.
Key Highlights for FY24
- Net Interest Income has grown to ₹2,127 crore in FY24 vs ₹1,660 crore in FY23, up by 28.1% YoY
- Loan AUM stands at ₹24,746 crore, growing by 24.9% YoY
- Secured book grew by 33% YoY
- Affordable Housing book grew more than 57% YoY
- Micro LAP loan book grew by 40% YoY
- Two-wheeler book has increased by 107% YoY
- Unsecured book grew by 14% YoY
- Total Deposits stand at ₹22,571 crore, growing by 38% YoY
- CASA deposits stand at ₹4,447 crore, increasing by 35% YoY
- CASA ratio stands at 20% as at March-2024
- Profit after tax (PAT) stood at ₹670 crore in FY24 as compared to ₹256 crore in FY23, registering a growth of 162% YoY. PAT for FY24 considers ₹155 crore of DTA recognized in Q4-FY24
- GNPA improved to 2.0% as of March 31, 2024, as against 3.6% as of March 31,2023
- NNPA improved to 0.5% as of March 31, 2024, as against 2.4% as of March 31,2023
- PCR at 74% as of March 31, 2024
- NIM% improved to 8.0% in FY24 as against 7.8% in FY23
- ROA & ROE for FY24 stands at 2.4% and 26.9% respectively. ROA & ROE adjusted for DTA is at 1.8% and 20.7% respectively.
Highlights for the financial year ended Mar 31, 2024:
| Particulars (in ₹ Crore) | For financial year ended | |
|---|---|---|
| FY24 | FY23 | |
| Net Interest Income | 2,127 | 1,660 |
| Non-Interest Income | 671 | 625 |
| Total Income | 2,798 | 2,285 |
| Opex | 1,605 | 1,285 |
| Operating Profit | 1,193 | 1,000 |
| Provision (Other than Taxes) | 679 | 744 |
| PBT | 514 | 256 |
| PAT | 670 | 256 |
Key Ratios Highlights:
| Particulars | For financial year ended | |
|---|---|---|
| FY24 | FY23 | |
| CASA to Total Deposit | 20% | 20% |
| Net Interest Margin (Annualised) | 8.0% | 7.8% |
| Cost to Income Ratio | 57.4% | 56.2% |
| Return on Average Assets (Annualised) | 2.4% | 1.1% |
| Return on Average Equity (Annualised) | 26.9% | 16.7% |
| Capital Adequacy Ratio (CAR) | 20.3% | 15.6% |
| Gross NPA (%)* | 2.0% | 3.6% |
| Net NPA (%)* | 0.5% | 2.4% |
About Jana Small Finance Bank:
Jana Small Finance Bank, a scheduled commercial bank, is the 4th largest Small Finance Bank in India with an experience of over 16 years in lending and serving more than 12 million customers. The Bank was launched in March 2018, is a solid combination of a digital institution and national presence across 22 states and 2 union territories, spread across 808 branches. From its origin of being a NBFC-MFI, the bank has transformed steadily over the years, leading to 60% of its lending book being secured,mostly backed by mortgages. The Bank has created a fast growing retail deposit franchise with a strong brand presence and high standards of customer service. The bank's management team has an average experience of 24 years with a reputed and well-rounded Board
Note: All Numbers are as on 31 st March 2024 unless specified otherwise
For more details, please visit - https://www.janabank.com/
Media contact details –
Savli Mangle, Adfactors PR for Jana SFB |savli.mangle@adfactorspr.com| 9833361003
Shreyasee Sen, Adfactors PR for Jana SFB |shreyasee.sen@adfactorspr.com| 8789323086