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Annual Report 2024-2025

img Annual Report 2024-2025
Journey of
Ujjivan

Empowering Growth,
Sustaining Value Creation.

Ujjivan was founded to serve the un-served and uplift the under-served, guided by the belief that financial dignity is a fundamental right.

In a country where many lacked access to banking, Ujjivan supported economically marginalised groups – especially women who were excluded from traditional financial systems. Ujjivan's Microloan offering, helped empower households and further nurtured aspirations.

As Ujjivan expanded, the need for `inclusive banking' became clear. Operating as an NBFC, limited its offerings. To create a lasting impact, structural changes of Ujjivan, was the need of the hour.

In 2016, that aspiration took shape. We were granted the `Small Finance Bank' licence by the Reserve Bank of India. Years of grit, purpose and trust culminated into this milestone, showcasing an inspiring journey that stemmed from the Ujjivan way of doing things. This achievement aligned with our mission to offer a broader range of financial services and creating a deeper impact within the society.

Year 1

A Star Is Born

In 2016, Ujjivan received an ‘in-principle’ license to set up a Small Finance Bank. Launched in 2017, we aimed to provide savings and credit services to the un-served and the under-served communities. Transitioning to a Bank from an NBFC empowered us to become trusted custodians of our customers' earnings. Thereby, lowering our cost of funds and allowing us to offer credit at more affordable rates.

Year 2

Transformation Amidst Challenges

FY 2017-18 was the first full year of banking operations. Ujjivan upgraded 450 branches, expanded digital channels, and improved access through ATMs and mobile banking, despite challenges like demonetisation.

Year 3

Building a Mass-Market Bank

In FY 2018-19, Ujjivan scaled existing products, launched new customer segments, partnered for third-party offerings, and grew both digital and physical reach—furthering its goal of inclusive financial access for all.

Year 4

Taking Responsible Steps

FY 2019-20 was pivotal, marked by a highly successful IPO and the onset of COVID-19. Ujjivan responded with resilience, activating the Business Continuity Plan to ensure stability and manage risk.

Year 5

Strengthening Trust

Despite pandemic challenges in FY 2020-21, Ujjivan safeguarded its employees, stayed connected with customers and accelerated digital engagement, ensuring uninterrupted services with renewed agility.

Year 6

Transforming for a Better Tomorrow

In FY 2021-22, two structured ‘100-day recovery plans’ were launched to rebuild volumes, improve asset quality and attract talent—while continuing to simplify banking and enhance accessibility.

Year 7

Advancing with Purpose

In FY 2022-23, we focused on our core strengths—investing in people, refining products, expanding our digital and physical reach. We also formed strategic partnerships with fintech companies to drive sustained growth.

Year 8

Growing with Intent

In FY 2023-24, Ujjivan leveraged digital innovations and adopted strategic campaigns that elevated customer engagement. While our Environmental, Social and Governance (ESG) focus, steered us towards an inclusive, responsible and future-ready Bank.

A

Future Ready

Bank

In February 2025, we took a significant step by applying for a ‘Universal Banking Licence’ with the Reserve Bank of India. Our consistent performance and adherence to financial discipline, placed us in a strong position to meet eligibility norms. With a net worth exceeding ₹ 1,000 Crores, listed entity status and a Non-Performing Asset (NPA) ratio consistently under 1% for the past two years, we are poised to chart the next phase of growth.

Transitioning to a Universal Bank will allow us to expand our portfolio, reduce regulatory constraints and serve our customers with even greater depth and flexibility. As we await approval, our commitment to boosting our digital infrastructure and fortifying our operational excellence remains firm. Above all, we remain true to our purpose – delivering inclusive and responsible banking that empowers every aspiring Indian.

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Corporate Identity
Business Model