Jaipur, July 4 (KNN) Considering the slack business season typically observed in the first quarter of the fiscal year AU Small Finance Bank’s loan disbursement grew up by 4.5 times to Rs 8,926 crore.

The small business lender which also focuses on vehicle financing has seen a 42% year-on-year (YoY) jump in gross advances, raising hopes of steady business activity despite soaring price pressures and rise in interest rates.

Registering a 37% yearly rise its gross advances stood at Rs 49,366 crore at the end of June while asset under management (AUM) was at Rs 50,179 crore.

The bank said that positive sentiment on the ground along with resilient consumption has supported economic activity and income generation in spite of the rising inflation and interest rate hardening.

“These factors also resulted in better collections for us than historically seen in Q1 of a financial year,” said the Jaipur headquarter bank.

The first quarter data of FY22 was however not exactly comparable as that period was a complete wash out business wise due to the second wave of Covid pandemic.  (KNN Bureau)