Jana Small Finance Bank raises Rs 225cr from TPG Asia, others

Bengaluru-based Jana Small Finance Bank on Monday said it has raised Rs 225 crore equity in the latest funding round from its existing investors – Jana Holdings, TPG Asia and HarbourVest Partners.

With this equity infusion, the capital adequacy ratio for the small finance bank has reached 19.97 per cent as on October 31, 2019, as against the regulatory requirement of 15 per cent, the release said.

The total capital infusion for Jana Bank stands at Rs 2,947 crore.

As of September 2019, the bank’s total deposits stood at Rs 7,503 crore while advances were at Rs 8,550 crore.

The bank’s net non-performing assets were at 1.72 per cent of net advances as on October 31, 2019 and gross non- performing assets stood at 3.98 per cent on AUM.

It has 270 banking outlets (including 25 business correspondence outlets), 298 asset centres and 120 ATMs.

Of the total banking outlets, 43 per cent are in semi-urban and rural areas.

[“source=moneycontrol”]