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.

Report Card for FY 2021-22

Demonstrating a turnaround in H2 FY 22

  • Financials
  • Assets
  • Digital
  • Deposits
  • People


`23,604 CR

Balance Sheet

( 16% y-o-y )

`14,113 CR

Size Disbursements

( 68% y-o-y )

`18,162 CR

Total Gross Advances

20% Increase
(` 15,140 Cr in FY 2020-21)

`18,292 CR

Total Deposits

39% Increase
( 13,136 Cr in FY 2020-21)

`9,921 CR

Retail Deposits

59% Increase
(` 6,242 Crores in FY 2020-21)

`3,126 CR

Total Income

1% Increase
(`, 3,108 Cr in FY 2020-21

`1,774 CR

Net Interest Income

3% Increase
(` 1,729 Crores in FY 2020-21)


Gross NPA



-232 Basis Points Decrease
(2.93% in FY 2020-21)


Provision Coverage Ratio

3,200 Basis Points Increase
(60% in FY 2020-21)


Cost Income Ratio


Net Interest Margin


Capital Adequacy Ratio


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


Banking outlets


Districts across 24 states and UTs


Customer base





  • Corporate Identity
  • Phygital Reach
  • Products and Services
  • Phone Banking
  • Customer Service
  • Marketing Engagements

Corporate Identity

Corporate Identity

Helping India Realise Aspirations

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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Phygital Reach

Phygital Reach

Reaching Farther,
Serving Better

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.

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Products and Services

Products and Services

Diverse Offerings
for Evolving Needs

We 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.

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Phone Banking

Phone Banking

Banking That is
Just a Call Away

The 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.

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Customer Service

Customer Service

Adopting a Customer-
First Approach

Superior 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’.

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Marketing Engagements

Marketing Engagements

Banking on
Enduring Relationships

As 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.

  • Chairman’s Message
  • MD & CEO’s Perspective
  • Key Performance Indicators
  • Business segments performance

Chairman’s Message

Emerging Stronger.
Determined to do Better.

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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MD & CEO’s Perspective

Charting the Growth
Graph Strategically

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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Key Performance Indicators

Balance Sheet Parameters

Business segments performance


Facilitating Seamless Banking

We continue to increase banking access for our informal sector customers, helping improve their lives and livelihoods, and furthering India’s financial inclusion priorities. Currently, we service 45 Lakhs customers, and provide them with specially designed products that answer their financial security, liquidity, and ease-of- banking needs.

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FY 2021-22 at a Glance

`12,344 CR

Gross Loan Book (OSP)

`10,668 CR

Disbursements (y-o-y increase 65%)


New Customers Onboarded

`1,467 CR

Deposit Base (43% y-o-y growth)

Micro and Small Enterprises

Expanding Footprint, Strategically

Facilitating growth of the MSE sector is crucial to India realising its ambition of becoming a $5-Trillion economy. MSEs are the wheels of the nation, accounting for close to 50% of India’s exports, one-third of its GDP, and nearly one-fifth of overall employment.

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Quick facts

`1,710 CR

Gross loan book 33% increase y-o-y

`1,087 CR



Collection Efficiency


Total borrower base

Affordable Housing

Enabling Housing for All

As one of the leading small finance banks in India with a clear focus on serving the under-served, the affordable housing segment is a key vertical for us. Our clients mostly seek loans for EWS, LIG or MIG housing in cities and semi-urban areas, and work in the formal or informal sectors. We also help to intermediate the government’s social priority of providing housing for all, and have helped more than 4,400 customers secure a subsidy under the Pradhan Mantri Awas Yojana (PMAY-CLSS) scheme.

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Quick facts

`1,064 CR

Total Disbursement 60% Increase y-o-y

`2,734 CR

Gross Loan Book 33% Increase y-o-y


Collection Efficiency


Total Borrower Base 26% Increase y-o-y

Vehicle Finance

Revving Up for Action

Vehicle finance gathered speed on the heels of resurgent demand for vehicles. Two-wheeler financing kept us buoyed throughout the year, with improved traction from our tie-up with Hero Motocorp.

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Quick facts

`128.12 CR

Total Disbursement

`162 CR

Gross Loan Book


Collection Efficiency


Borrower Base

Branch Banking and Trust, Association, Society and Club (TASC)

Enhancing Customer Experience

We continue to create value and enhance customer experiences across 244 districts and 24 states and union territories in India through our 575 banking touch points that is enabling us to strengthen our reach. Our liabilities book through branch banking grew at a robust pace during FY 2021-22.

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Quick facts

`8,335 CR

Liabilities Book of Branch Banking 64% y-o-y growth

`1,502+ CR

Privilege SA Book

`3,953 CR



Customers 31% y-o-y growth

Third-party Products

Expanding Offerings and Scaling Competencies

As we grow our product offerings, we are also enhancing our people and process capabilities and targeting higher quality of customers.

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Quick facts

`355.52 CR

Gross Premium Collected 56% Increase y-o-y

`27.14 CR

Revenue 42% Increase y-o-y

Financial Institutions Group (FIG)

Growing Presence Across the Financial Sector

The Financial Institutions Group (FIG) has a broad scope of operations within our Bank, contributing to both, growth in institutional lending and deposit accumulation. It acquires and manages the pan-India liability businesses across various financial institutions.

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Quick facts

`715 CR

Total Disbursement 53% y-o-y Increase

`96 CR

Current Account EOP 1% y-o-y increase

`855 CR

Gross Loan Outstanding Portfolio, 32% y-o-y Increase

`7,617 CR

Deposit, Current Account and Term Money, 40% y-o-y Increase


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.

  • Human Resources
  • Communities
  • Risk Management
  • Board of Directors
  • Leadership Team
  • Awards

Human Resources

Prioritising People

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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Towards Greater Good

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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Risk Management

Risks Proactively

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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Board of Directors

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

Leadership Team

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


Garnering Honours for


Download Centre

Management Discussion and Analysis

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Corporate Governance Report

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Business Responsibility Report

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Financial Reports

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