The largest small finance bank saw its advance portfolio rising to Rs 67624 crore while gross deposits were at Rs 80120 crore.
The bank securitized loan portfolio of Rs 2,738 crore during the quarter to diversify funding profile and optimise cost, according to the provisional quarterly data filed with the stock exchanges.
The macro environment during the third quarter continued to warrant caution and prudence amidst tight liquidity, higher interest rate and persistent competitive landscape for deposits, the bank said.
The bank’s current and savings account ratio to total deposits fell to 33% at the end of December against 38.4% a year back, indicating a shift of depositos from savings accounts to term deposits.
The average cost of funds for the quarter rose by 20 basis points quarter-on-quarter to 6.90% as against 6.70% in the preceding period, which may put pressure on the bank’s net interest margin.