AU Small Finance Bank’s profit up 42% in March quarter

MUMBAI: AU Small Finance Bank’s profit grew 42 per cent to Rs 118 crore in the March quarter led by a 50 per cent growth in loans for vehicle purchases. Net Interest Income the difference between what it paid for funds and what it earned from lending, nearly to Rs 851 crore from Rs 464 crore. “Capital raise, stable asset quality, adequate liquidity, continued growth momentum and uptick in yields, cost to income and return ratios were key highlights of the fiscal,” said Sanjay Agarwal, CEO, AU Small Finance. The credit growth was driven by strong…

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Seychelles marks annual growth of 42% on Indian arrivals

Seychelles recorded 42% annual increase in tourist arrivals from India in 2016 compared to 2015. Around 11,000 tourists from India visited Seychelles in 2016 compared to around 8,000 in 2015 and as a result India broke into the list of top 10 source markets for the tourism board. This increase can be attributed to the India tourist office’s committed focus on promotion of the destination, interest and efforts from the hotels and DMCs to capture the Indian market, increased customer awareness due to Bollywood associations and innovative digital presence along…

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