Reports strong business growth in Q1 FY23
Ujjivan Small Finance Bank Reports strong business growth in Q1 FY23
Traction on collection and asset quality improvement continues
Bengaluru/Mumbai, 05 July, 2022: Ujjivan SFB has reported a steady overall growth in Gross Advances, coupled with continued improvement in asset quality. Sustained traction in collection efficiency has driven further reduction in GNPA, Portfolio at Risk (PAR>0) during Q1 FY 23.
The Bank has reported a robust growth in disbursement for Q1FY23, growing 230 per cent Y-o-Y at INR 4,327 crore.
The total advances at the end of the quarter ended June 30, 2022 were 38.3 per cent higher Y-o-Y at INR 19,409 crore, led by Microbanking segment which grew 39.0 per cent YoY to INR 13,364 crore. Affordable Housing and MSE loan book continued to witness strong traction, with 38.5 per cent and 39.0 per cent increase to INR 2,905 crores and 1,767 crores respectively.
Retail Deposits has witnessed a very healthy rise, posting a 65.2 per cent growth Y-o-Y to INR 10,761 crore as on June 30, 2022. The bank’s total deposits have increased by 35% Y-o-Y to INR 18,433 crore. The performance is in line with bank’s increasing focus on granular retail deposits.
The Collection efficiency has progressively improved from 97 per cent in Jan’22 to 100 per cent in Mar’22; and continues to remain strong with persistent focus on stressed buckets and reducing incremental overdue.
With sustained traction in collection efficiency, asset quality parameters continue to improve m-o-m. Portfolio at Risk (PAR>0) has reduced every month from 9.6 per cent in Mar’22 to 7.9 per cent in Jun’22. GNPA to has continued the declining trend; reducing from 7.1 per cent in Mar’22 to 5.9 per cent in Jun’22. The GNPA has reduced in absolute terms as well.
The improvement in asset quality is noteworthy considering that GNPA was at 11.8% in Sep’21; post which it has been on a steady declining trend over the last 3 quarters.
About Ujjivan Small Finance Bank
Ujjivan Small Finance Bank Limited is one among the leading small finance banks. The bank remains committed to serving unserved and underserved segments through financial and digital inclusion as a mass-market bank. Ujjivan is a one-stop destination for financial services, offering a personalized customer experience. The strengthened digital interfaces across regions and languages have empowered Ujjivan customers to seek timely and easy access to finance at all times.
*The information as specified above is provisional and subject to an audit by the statutory auditors of the Bank.
