Ujjivan Small Finance Bank’s (Ujjivan SFB) story continues to rest on the fundamentals of persistence, passion and progress, sometimes against all odds. The recent challenges notwithstanding, we have demonstrated resilience and have embarked on a journey towards a sustainable future, building liquidity buffers, improving asset quality, and driving responsible growth. What remains unaltered is our passion to fuel the aspirations of our customers while contributing to India’s financial inclusion agenda.
After a muted first half due to the second COVID wave, business revived in the second half of the fiscal, with the implementation of the two 100-day plans. Collections improved, leading to better credit parameters; disbursement and deposit mobilisation picked up pace, and attrition stabilised.
We retained our primary focus of lending to existing customers with good repayment track record, while customer acquisition gradually built up in promising geographies.
Our loan book grew steadily across segments: affordable housing business book grew by 33%, with the total number of customers crossing 30,000 during the year; MSE loans grew by 33%, and financial institutions lending grew by 32%.
New products like term loan, overdraft and cash credit facility, were launched under the Credit Guarantee Trust for MSE scheme (CGTMSE); and cash credit/OD facilities were introduced for FIG customers.
Expanded the capabilities of the API stack base to cater to a wider range of use cases from the fintech industry, with the total number of APIs standing at 169.
Digital penetration has increased steadily with 16.4 Lakhs of unique customers registered on our mobile banking and UPI platforms, as on March 2022. We had 5 lakh+ unique customers in FY22.
Launched Ujjivan Pay QR solution for merchants.
Further strengthened digital collection network by Partnering with "Spicemoney" to further strengthen our already strong digital collection network. 18% of collection were made digitally during FY22.
Deposits book recorded 39% y-o-y growth. Of this, retail deposits witnessed significant growth, closing at ₹9,921 Crores, constituting 54% of total deposits accumulated till March 31, 2022.
CASA grew by 85% y-o-y, closing at 27% of the total deposit book as on March 31, 2022.
Institutional business, comprising deposits from financial institutions, along with trusts, associations, societies and clubs (TASC) grew by 21% y-o-y.
New, customer-friendly products were launched including the Classic Savings Account, which offers a higher cash deposit limit and free unlimited withdrawal at any Ujjivan SFB branch, and also ‘BusiMoni OD,’ a collateral free overdraft facility for the Current Account holders.
Certified as a Great Place to Work for 12th year in a row; and One of the Best in SFB segment.
‘Doctor on Call’ and ‘Doctor on Premise’ services were extended to employees to ensure that proper advice was easily accessible.
Launched Ujjivan Sanjeevani Kavach, a vaccination drive to protect the community members in the geographies we operate; vaccinated 80,000+ beneficiaries through our branch-led camps in association with local government authorities.
At Ujjivan SFB, passion drives performance, and remains the overarching principle behind all the business functions. Whether it is being customer-centric, or driving sustained outcomes and progress through strategic actions, and designing welfare initiatives for communities, the precursor lies in operating with uncompromising passion.
Expanding Reach and Impact
575
Banking outlets
248
Districts across 24 states and UTs
64.8L
Customer base
492
ATMs
16,895
Workforce
With renewed determination and vigour, we are focused on serving the financial aspirations of our customers. We offer them a comprehensive range of relevant products and services, helping them grow their savings and fulfill their dreams.
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As one of the largest small finance banks in the country, we strive to offer financial means to remote, untapped potential, by bringing unserved and under-served markets within the boundaries of formal banking.
Read MoreWe offer one of the widest varieties of banking and financial products and services, and address multiple needs of our customers for financial stability and wealth creation.
Read MoreThe phone banking support team helps to give shape to the Bank’s promise of providing convenient and accessible banking. During the pandemic, when personal movement was restricted and localised lockdowns were underway, the phone banking service came as a boon for our customers. Standing steadfast on our mantra of “One Bank One Ujjivan” the Phone Banking Channel served customers 24/7 in 9 languages with 9.5 Lakhs customer calls answered.
Read MoreSuperior customer experience and top-notch quality of service are imperative for fostering a sustainable relationship between the Bank and the customers. Our ultimate service and quality yardstick is best described by Ujjivan SFB’s objective to ‘deliver exceptional service to our customers, by instilling service culture in our people, process, and policy, enabled by technology’.
Read MoreAs a fast-growing bank that caters to the small- and medium sectors, Ujjivan SFB has always remained strongly connected with its customers. Once the pandemic waned in Q2 FY22, it was time to leverage our strong relationship with customers. We launched varied innovative campaigns during the year along with a range of banking options.
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At Ujjivan SFB, comprehensive gamut of products & services, backed by robust digital infrastructure and exemplary service standards serve as our key differentiators. Whether it is rebuilding business volumes, enhancing asset quality, creating a skilled talent pool, or extending help to communities, our effort is to fuel our operations with utmost passion and commitment. Regardless of the headwinds, and any socio-economic disruptions, our strength has been in driving inclusive growth with consistency, maintaining leadership position and values, against all odds.
We, along with other SFBs, started the banking journey five years back. These five years have been a mixed bag with several achievements and learnings. All of us have been able to create a deposit book to match asset side, invest in IT and robust banking platform, create new highs in financial inclusion. However, cost and profitability has been a challenge due to the transformation as well as external shocks like demonetization and COVID.
Mr B.A PrabhakarChairman
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Our disbursements in Q3 and Q4 of this fiscal were the highest ever for the Bank, leading to a 68% y-o-y growth in disbursements, and 20% y-o-y growth in gross advances for the year. MicroBanking and our retail businesses, MSE and Affordable Housing, contributed significantly to this growth.
Ittira DavisManaging Director & CEO
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Enhancing customer experience, while diversifying our suite of products and services have been our central focus areas. Though the year began with turbulences and challenges, we revved up performance, demonstrating laudable turnaround in the last fiscal.
Whether it is curating an eclectic mix of talent, or prioritising stakeholders’ interests, embracing digitisation, or being sentient towards community welfare, we have journeyed forward with utmost grit, values, commitment and efficiency.
Stress and uncertainties caused by the pandemic took a heavy toll on our employees, and Ujjivan SFB was quick to step in with programmes that helped to address many of the challenges that they were facing.
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COVID-19 support
During the second wave of the pandemic, the public health infrastructure across the country had become overwhelmed. Ujjivan SFB stepped in to help and was involved in 33 projects, pan-India, benefitting the general public, healthcare, and ASHA workers. The projects were run under the aegis of hospitals and COVID- care homes, in coordination with Central and State government bodies, and the scale of impact included 8 COVID-care homes and 22 hospitals, with a total of 3,80,000+ beneficiaries.
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Q1 of FY 2021-22 saw yet another disruption to the normal course of business on account of the second wave of the COVID-19 pandemic. With the onset of the pandemic in March 2020, the Bank had consciously recalibrated its business and risk strategy to adapt to the ‘new normal’. This strategy was further reviewed against the backdrop of the second wave to account for the adverse impacts likely to be faced by the Bank during the year. The Bank’s Risk Management Committee of the Board (RMCB) assumed the vanguard role to charter a recovery path from the severe impact left by the pandemic.
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Ittira Davis Managing Director & Chief Executive Officer
Banavar Anantharamaiah Prabhakar Part-Time Chairman and Independent Director
Samit Kumar Ghosh Non-Executive, Non-Independent Director
Sudha Suresh Non-Executive, Non-Independent Director
Rajesh Jogi Independent Director
Rajni Mishra Independent Director
Ravichandran Venkataraman Independent Director
P N Raghunath Additional Director nominated by RBI
Satyaki Rastogi Non-Executive Nominee Director
Anita Ramachandran Independent Director
Ittira Davis Managing Director and CEO
Carol Kripanayana Furtado Chief Business Officer
Martin Pampilly S Chief Operating Officer
M.D. Ramesh Murthy Chief Financial Officer
Brajesh Joseph Cherian Chief Compliance Officer
Arunava Banerjee Chief Risk Officer
Parmeet Singh Daljeet Singh Grover Chief Vigilance Officer
Ashish Goel Chief Credit Officer
Ashwin Khorana Chief Information Officer
Sanjeev Barnwal Company Secretary & Head of Regulatory Framework
Chandralekha Chaudhuri Head of Human Resources
Premkumar Govindappa Head (Admin, Infrastructure and Social Services)
Rajeev Padmanabh Pawar Head of Treasury
Sriram Srinivasan Head of Digital Banking
Sathyananda Prabhu Head of Internal Audit
Lakshman Velayutham Chief Marketing Officer
Vibhas Chandra Business Head - Microbanking
Sumit Thomas Head of Branch Banking, TASC and TPP
Ashim Sarkar Business Head – Micro and Small Enterprise
Pradeep B Business Head – Housing Loans
Parag Srivastava Head of Financial Institutions & Government Banking Group
Murali Chari Business Head – Rural Banking
Srikumar Vadake Varieth Head of Legal
Rajaneesh Hosakoppa Rudresha Head of Operations
Rajiv K Sidana Head FIG Liabilities & Trade Finance
