Merger concludes; business growth to remain robust, but higher credit cost to keep RoA stable at 1.6% in FY25E
AU SFB reported adjusted (for merger cost of INR 0.7bn) RoA at 1.6% during Q4FY24, largely driven by credit cost moderation to ~70bps vs. >90bps QoQ and strong traction in core fee income (up 24% QoQ).