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Jana Small Finance Bank Raises Rs 225 Crores Capital

twitter-logo PTI        Last Updated: November 11, 2019  | 16:22 IST

(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.) BANGALORE, Nov. 11, 2019 /PRNewswire/ -- Jana Small Finance Bank has announced a raise in equity capital of Rs 225 crores from existing investors. With an infusion of Rs. 225 crores of equity during October 2019, the Capital Adequacy Ratio for Jana Bank has reached 19.97% (as on October 31, 2019) more than regulatory minimum requirement of 15% for Small Finance banks. The total capital infusion for Jana Bank (circa April 2017-present) stands at Rs. 2,947 crores. This infusion from existing investors namely Jana Holdings limited, TPG Asia and HarbourVest Partners showcases a strong confidence of investors towards JSFB. Significant Turnaround in financial health: In Q2-FY 20, the Bank made a net profit of Rs. 7 crores. The improvement in balance sheet has been due to a consistent growth of the asset book while maintaining a tight control on the quality of new bookings, aggressive cost management and recoveries from the legacy NPA books respectively, thereby ensuring a continued improvement in profits. The banks net non-performing assets reduced sharply to 1.72% of net advances as on October 31, 2019 and gross non-performing assets stood at 3.98% on AUM as on October 31, 2019. Substantial traction in deposit mobilisation Total deposits of the bank as of September 30, 2019 were Rs. 7,503 crores - Three times more than the September 30, 2018 base of Rs. 1,824 crores respectively. Deposit growth has also improved after Jana Bank got its Scheduled bank status in August 2019. Total advances of the bank showed an increase of over 24% from September, 2018 to September, 2019 standing at Rs. 8,550 crore. The asset book continues to diversify with 25% of the book being secured (affordable housing, MSE, Gold) up from 10% in Sep 2018. Being back in the black, JSFB now aims on solidifying its numbers in the upcoming quarters and continuing its journey in financial inclusion. About Jana Small Finance Bank: Jana Small Finance Bank is a Scheduled Commercial Bank. Established in Bengaluru in 2008, it has been recognized globally as one of the most innovative financial institutions working on financial inclusion. As on September 30, 2019, the Bank's distribution network was at 270 banking outlets (including 25 business correspondence outlets), 298 asset centres and 120 ATMs. Of the total banking outlets, 43% are in semi-urban and rural areas. Number of employees were at 14,452 as of Sep 30, 2019. For more information, please log on to: www.janabank.com. PWR PWR

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