Unity Small Finance Bank Shines with 36% Profit Boost

Unity Small Finance Bank reported a 36% increase in profit, reaching Rs 187 crore in Q2 of 2024. This growth compares to Rs 138 crore in the same quarter last year. Total income surged to Rs 640 crore, and net interest income rose to Rs 320 crore. The capital adequacy ratio was at 29%.

Unity Small Finance Bank showcased robust financial growth, reporting a 36% rise in profits for the second quarter of 2024, amounting to Rs 187 crore. This is a significant jump from the Rs 138 crore reported during the same period in the previous fiscal year.

Furthermore, the bank's total income exhibited a similar upward trajectory, increasing to Rs 640 crore compared to Rs 361 crore in the prior year. Net interest income also demonstrated healthy growth, climbing to Rs 320 crore.

The capital adequacy ratio, a critical measure of a bank's financial health, stood at 29%, reflecting the financial stability and strategic management of Centrum Group, the bank's promoter.

(With inputs from agencies.)