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Ujjivan Small Finance Bank Results: Latest Quarterly Results & Analysis

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Ujjivan Small Finance Bank Ltd. 17 Oct 2025 14:52 PM
Result PDF

Q2FY26 Quarterly Result Announced for Ujjivan Small Finance Bank Ltd.

Ujjivan Small Finance Bank announced Q2FY26 results

  • Q2FY26 PAT of Rs 122 crore up 18.2% QoQ.
  • PPoP grew 9.6% QoQ to Rs 395 crore.
  • Net Interest Income at Rs 922 crore up 7.7% QoQ, reversing the trend of 3 quarters.
  • Q2FY26 RoA / RoE at 1.0% / 7.7%
  • Deposits:
    • Deposits at Rs 39,211 crore as of Sep’25 up 15.1% YoY.
    • CASA at Rs 10,783 crore up 22.1% YoY with CASA ratio at 27.5% as of Sep’25.
    • Cost of Funds dropped to 7.3% from 7.6% in Q1FY26
  • Assets:
    •  Highest ever disbursements at Rs 7,932 crore, Growth of 47.6% YoY and 21.3% QoQ.
    • Gross loan book at Rs 34,588* crore up 14.0% YoY and 3.9% QoQ.
    • Secured book share at 46.8% as of Sep’25 vs 34.9% as of Sep’24 and 45.5% as of Jun’25.
    • Micro Banking disbursements stood at Rs 4,259 crore, up 29.3% YoY and 8.3% QoQ.
    • Micro Banking book grew to Rs 18,570 crore, up 1.5% QoQ
  • Collection and Asset Quality:
    • Portfolio at Risk/GNPA/NNPA at 4.45%/2.45%/0.67% respectively as of Sep’25; for Jun’25 at 4.81%/2.52%/0.71% respectively.
    • Provision coverage ratio as of Sep’25 is 73%.
    • Bucket-X collection efficiency remained strong for Group and Individual Loan book at 99.5% for Sep’25.
    • Overall SMA dropped to 1.99%; lowest level since Q1FY25
  • Capital Position: Capital adequacy ratio at 21.4% with Tier I at 19.9%

Sanjeev Nautiyal, MD & CEO, Ujjivan Small Finance Bank, said: “We have delivered a well calibrated growth for the quarter by ensuring absorption of excess liquidity thereby taking our CD ratio to 88.2%. Total deposits were up 1.5% QoQ and up 15.1% YoY at Rs 39,211 crore. CASA grew 14.9% QoQ and 22.1% YoY to Rs 10,783 crore, while Retail TD plus CASA deposits remained around 71% of total deposits. Our CASA augmentation efforts are just beginning to take shape. The MF distribution and forex products would be rolled out to customers in Q3, while future rollout of ASBA will further drive CASA mobilization. We have proactively reset rates in both TD and SA in various buckets resulting in improvement in cost of funds by 23 bps QoQ and 17 bps YoY. We expect further CoF benefits in coming quarters.

Loan origination remained strong this quarter with one of the highest disbursements of Rs 7,932 crore up 21.3% QoQ and 47.6% YoY. For H1FY26, disbursements grew 35.8% to Rs 14,471 crore, led by continued momentum in the secured loan book. Our Gross Loan Book grew 3.9% QoQ and 14.0% YoY to Rs 34,588 crore in Q2FY26, driven by our disciplined approach to diversify asset suite and build a sustainable portfolio. The faster growth in the secured products compared to unsecured led to share of secured loans coming at 47%.

As guided, our microfinance portfolio is stabilising with improving repayment behaviour reflected in Bucket X collection efficiency of 99.45% to 99.50% consistently for 3 months of Q2FY26. Our overall asset quality as reflected in credit costs has remained flat at 2.8%, and we remain on track for sequential improvements in the remaining quarters of the financial year.

PAT for Q2 at Rs 122 crore is up 18.2% QoQ. RoA and RoE increased sequentially and came in at 1.0% & 7.7% respectively. With strategic branch expansion and product diversification supporting our future growth plans, we remain confident to grow advances in FY26 by around 20% with credit costs contained in the range of 2.3% to 2.4% of gross loan book.”

Result PDF

Result PDF

Ujjivan Small Finance Bank announced Q1FY26 results

  • Assets:
    • Gross loan book at Rs 33,287 crore up 11% YoY / 4% QoQ.
    • Secured book share at 45.5% as of Jun’25 vs 31.3% as of Jun’24 and 43.5% as of Mar’25.
  • Collection and Asset Quality:
    • Bucket-X collection efficiency remained strong for Group and Individual Loan book at 99.3% for Jun’25.
    • Portfolio at Risk/GNPA/NNPA at 4.8%/2.5%/0.7% respectively as of Jun’25; for Mar’25 at 4.5%/ 2.2%/ 0.5% respectively.
    • Accelerated Provision as of Jun’25 at Rs 23 crore; Provision coverage ratio as of Jun’25 is 73%.
  • Deposits:
    • Deposits at Rs 38,619 crore as of Jun’25 up 18.8% YoY / 2.6% QoQ.
    • CASA at Rs 9,381 crore up 12.6% YoY with CASA ratio at 24.3% as of Jun’25.
    • Retail TD  CASA continues to grow and as of Jun’25 is Rs 27,883 crore, up 16% YoY.
  • Financials:
    • Q1FY26 PAT of Rs 103 crore up 24% QoQ.
    • Credit Cost for Q1FY26 at Rs 225 crore, including accelerated provision of Rs 23 crore.
    • Q1FY26 RoA / RoE at 0.8% / 6.7%.
  • Capital and Liquidity:
    • Capital adequacy ratio at 22.8%.
    • Ample liquidity with Average Daily LCR for Jun’25 was 156%.

Sanjeev Nautiyal, MD & CEO, Ujjivan Small Finance Bank said: “In Q1FY26, we delivered robust 11% YoY growth in our gross loan book this was backed with strong momentum across secured segment which grew 63% YoY. The disbursements for the quarter at Rs 6,539 crore, up 24% YoY. Our total deposits grew 19% YoY to Rs 38,619 crores. CASA deposits were up 13% at Rs 9,381 crore. Retail TD plus CASA deposits stood at Rs 27,884 crores, registering a 16% growth YoY and contributing 72% to total deposits. Our cost of funds remained at 7.6% in Q1 and are expected to reduce in upcoming quarters since we have reduced the peak FD rates by 65 basis points and SA rates have been selectively re-calibrated up to 100 basis points.

The MFIN Guardrails 2.0, have been fully adopted by the Bank effective 1st April 2025. While we had anticipated a slower disbursement, we see that demand scenario continues to improve and Q1 disbursement in Group Loan was 2% higher than Q4. We stay aligned to this new operating framework and are focusing on deeper existing customer engagement and opportunities to acquire new customers. In Micro Banking nearly 1.1 lakh new customers were added in Q1 and nearly 34,000 customers were graduated from group loan to individual lending and also migrated substantial customers to secured products of Gold, Vehicle and Micro Mortgages, a testament to our efforts in nurturing credit-worthy borrowers and driving sustainable growth.

The recent regulatory change of reducing PSL requirement for SFB’s from 75% to 60% enhances flexibility to calibrate portfolio mix. The Reserve Bank of India took various steps starting February’25 including reduction of policy repo rate and continuous liquidity infusion. We believe these measures would bring down the cost of funds and increase demand in rate sensitive segments.

PAT for Q1 at Rs 103 crore is up 24% QoQ. RoA increased 12 bps to 0.8% and RoE increased 114 bps at 6.7%. Other income saw robust growth of 26% YoY lead by treasury income. Credit Cost was lower QoQ at Rs 225 crore including accelerated provision of Rs 23 crore. For FY26 we expect to grow advances around 20% with a credit cost in the range of 2.3% to 2.4% of average gross advances. RoE to be around 10% to 12% and RoA to be around 1.2% to 1.4%.

Result PDF

Microfinance Institutions company Ujjivan Small Finance Bank announced Q4FY25 & FY25 results

Financial Highlights:

  • Financials:
    • FY25 PAT of Rs 726 crore; Q4FY25 PAT at Rs 83 crore.
    • FY25 Total Income at Rs 7,201 Cr, up 11% YoY.
    • FY25 NIM at 8.8% is down 25 bps from 9.1% for FY24.
    • Credit Cost for FY25 at 2.45% of Avg. Gross Loan book, incl. accelerated provision of Rs 46 crore.
    • FY25 RoA / RoE at 1.6% / 12.4%.
  • Assets:
    • Gross loan book at Rs 32,122 crore up 8% YoY / 5% QoQ.
    • Secured book at 43.5% as of Mar’25 vs 30.2% as of Mar’24 / 39.3% as of Dec’24.
    • Micro Banking Disbursements up 38% QoQ.
  • Collection and Asset Quality:
    • Bucket-X collection efficiency improving for Group and Individual Loan book at 99.5% for Mar’25.
    • Portfolio at Risk/GNPA/NNPA at 4.5%/2.2%/0.5% respectively as of Mar’25; for Dec’24 at 5.4%/ 2.7%/ 0.6% respectively.
    • Accelerated Provision as of Mar’25 at Rs 46 crore; Provision coverage ratio as of Mar’25 is 78%.
  • Deposits:
    • Deposits at Rs 37,630 crore as of Mar’25 up 20% YoY / 9% QoQ.
    • CASA at Rs 9,612 crore up 15% YoY; CASA ratio at 25.5% as of Mar’25 up 43 bps vs Dec’24.
    • Retail TD^ CASA continues to grow and as of Mar’25 is Rs 26,676 crore, up 21% YoY.
  • Capital and Liquidity:
    • Capital adequacy ratio at 23.1%.
    • Average Daily LCR for Mar’25 was 120%.

Sanjeev Nautiyal, MD & CEO, Ujjivan Small Finance Bank, said: “FY25 has been an eventful wherein the bank navigated the challenging business environment in the Micro Banking segment maintaining one of the best in industry portfolio quality. Strategic initiative to diversify and build higher share of secured loan book saw significant progress, now contributing 44% of the loan portfolio, up from 30% last year. While, the banking system liquidity continued to see challenges, this was managed at optimal levels with Credit to Deposit ratio improving to around 85% and LCR managed comfortably around 120%. Further, in Feb’25 bank took a major step forward by filing application with RBI to transition to a universal bank.

Disbursements for Q4 have been the highest ever in history of Ujjivan at Rs 7,440 crore, up 39% QoQ and 11% YoY. The gross loan book reached Rs 32,122 crore, up 5% QoQ and 8% YoY. The secured book crossed Rs 13,988 crore, up 17% QoQ and 56% YoY. The disbursements for newer product lines contributed 11% to the bank’s disbursements in Q4. The Micro-banking segment saw robust growth in disbursement in Q4, up 38% QoQ. Within Micro Banking, Individual Loan Book grew 5% QoQ, reaching Rs 5,182 crore, now constituting 28% of the overall Micro banking Book as of Mar’25.

The Micro Banking Bucket-X Collection Efficiency in all states other than Karnataka showed consistent improvement, reaching 99.6% in Mar’25. The overall Bucket-X collection efficiency reached 99.5% in Mar’25 despite Karnataka registering only 98.7%. The branch and customer specific interventions were pivotal in managing the portfolio making it one of the best in the industry under the current situation. The full implementation of MFIN guardrail 2.0 has been completed with effect from April 1st. For the secured portfolio quality, Housing GNPA reduced YoY to 1.1% as of Mar’25 from 1.5%. MSME saw drastic improvement with GNPA reducing to 5.5% as of Mar’25 from 8.4% as of Mar’24. Bank level GNPA stood at 2.2% and NNPA at 0.5%.

Total deposit book closed at Rs 37,630 crore, up 9% QoQ and 20% YoY. In Q4 impressive growth in CASA was witnessed, up 11% QoQ reaching Rs 9,612 crore and now forming 25.5% of total deposits up by 43 bps vs 25.1% in Dec’24. CA Crossed an important milestone of Rs 1,000 crore for the first time, reaching Rs 1,118 crore as on Mar’25, with impressive growth of 35% QoQ and 46% YoY. Retail TD CASA grew 21% YoY to reach Rs 26,676 crore.

Result PDF

Ujjivan Small Finance Bank announced Q3FY25 results

  • Assets:
    • Gross loan book at Rs 30,466 crore up 9.8% YoY / 0.4% QoQ.
    • Secured book at 39.3% as of Dec’24 vs 28.3% as of Dec’23 / 34.9% as of Sep’24.
    • Secured book up 13.3% QoQ and 52.0% YoY.
  • Collection and Asset Quality:
    • Overall Collection Efficiency at ~96% in Dec’24.
    • Bucket X collection efficiency improving for Group and Individual Loan book; at 99.3% as of Dec’24.
    • Portfolio at Risk/GNPA/NNPA at 5.4%/2.7%/0.6% respectively as of Dec’24; for Sep’24 at 5.1%/ 2.5%/ 0.6% respectively; Q3FY25 write-off at Rs 30 crore.
    • Accelerated Provision taken in Q3 of Rs 30 crore; Provision coverage ratio as of Dec’24 is 80%.
  • Deposits:
    • Deposits at Rs 34,494 crore as of Dec’24 up 16.3% YoY / 1.2% QoQ.
    • CASA at Rs 8,662 crore up 15% YoY; CASA ratio at 25.1% as of Dec’24.
    • Retail TD^ continues to grow and as of Dec’24 is Rs 16,612 crore, up 29.5% YoY / 4.4% QoQ.
  • Financials:
    • Q3FY25 NII of Rs 887 crore up 3.1% YoY; NIM at 8.6% for Q3FY25.
    • Opex to Avg assets improved to 6.2% in Q3FY25 vs 6.4% in Q2FY25.
    • Q3FY25 PPoP at Rs 359 crore; Q3FY25 Adjusted PAT at Rs 132 Crore.
    • Q3FY25 Adjusted$ RoA / RoE at 1.2% / 8.8%
  • Capital and Liquidity:
    • Capital adequacy ratio at 23.9%.
    • Provisional Daily Average LCR for Dec’24 was 130.4%.

Sanjeev Nautiyal, MD & CEO, Ujjivan Small Finance Bank said: “Q3FY25 has been a healthy quarter wherein the diversification of loan book is showing consistent improvement. Our strategy towards more secured book has seen accelerated results contributing 39% to the total asset loan growing 13% QoQ and 52% YoY. These efforts enabled the loan book to grow to Rs 30,466 crore up 0.4% QoQ and 10% YoY.

Being a responsible lender, Bank undertook a proactive decision to effect reduction in interest rates in Group loans (GL) and Individual loans (IL) offering competitive rates to our customers w.e.f. January 01, 2025. This will act as an enabler to acquire quality customers. Parallelly, we are keeping a close watch on the evolving Microfinance space and navigating it appropriately. Few pockets of stress visible earlier are now demonstrating healthy trends. X-Bucket collection efficiency in GL & IL has improved to 99.3% in Dec’24 vs 99.0% in Aug’24. Owing to the visible green shoots, we have seen higher disbursements during the first 3 weeks of Q4FY25. We are geared to pursue healthy business as the situation in different states approach towards normalcy. Secured businesses are making perpetual and determined strides, this year registering a ~40% YTD growth and poised to register a stronger growth for full year FY25.

To manage asset quality better, Bank also engaged in a sale of stressed loan assets to the tune of Rs 270 crore. Bank has also taken an accelerated provision of Rs 30 crore to be better cushioned from any future exigencies. Post which GNPA/NNPA as on Dec’24 stands at 2.7%/0.6% with a comfortable PCR of 80%.

Deposit book at Rs 34,494 crore as of Dec’24 is up 1.2% QoQ and 16.3% YoY. CASA ratio at 25.1% as of Dec’24 continued to be healthy. Bank is in the process of enabling some structural changes in its liability strategy enhancing focus to serve more targeted segments of affluent customers largely classified under Non-Residents, Corporate Salary and Traders. New products in our product suite affiliated post receipt of AD-1 licence will also enhance offerings and improve customer base in-line with our above stated strategy.

Finally, I am happy to share that we will be shortly moving the application to RBI for transition to a Universal Bank having received approval of the Board in the meeting held today.”

Result PDF

Ujjivan Small Finance Bank announced Q2FY25 results

  • Assets:
    • Gross loan book at Rs 30,344 crore up 14% (YoY)/ 1% (QoQ).
    • Secured book at 34.9% as of Sep’24 vs 31.3% as of Jun’24.
    • Disbursements at Rs 5,376 crore in Q2FY25 down 6% (YoY) and up 2% (QoQ).
  • Collection and Asset Quality:
    • Collection Efficiency at ~97% in Sep’24; NDA collection consistently at ~99%.
    • Portfolio at risk at 5.1% as of Sep’24; GNPA* at 2.5% as of Sep’24 vs 2.3% as of Jun’24; NNPA at 0.6% as of Sep’24 vs 0.4% as of June’24.
    • Q2FY25 write-off at Rs 140 crore; Provision coverage ratio as on Sep’24 is 78%.
  • Deposits:
    • • Deposits at Rs 34,070 crore as of Sep’24 up 17% (YoY)/5% (QoQ).
    • CASA at Rs 8,832 crore up 26% (YoY); CASA ratio at 25.9% as of Sep’24 vs 25.6% as of Jun’24.
    • Retail TD at Rs 15,914 crore, up 35% (YoY)/2% (QoQ).
  • Financials:
    • Q2FY25 NII of Rs 944 crore up 15% (YoY)/ 0.2% (QoQ); NIM at 9.2% for Q2FY25.
    • Cost to Income ratio at 60% in Q2FY25.
    • Q2FY25 PPoP at Rs 461 crore; Q2FY25 PAT at Rs 233 crore.
    • RoA/RoE at 2.2%/15.7% in Q2FY25.
  • Capital and Liquidity:
    • Capital adequacy ratio at 23.4% with Tier-1 capital at 21.6%.
    • Provisional Daily Average LCR for Sep’24 was 130%.

Sanjeev Nautiyal, MD & CEO, Ujjivan Small Finance Bank said: “Ujjivan has always stood strong and successfully navigated headwinds in the industry. Similarly, our resilient business model and sound reading of the on-ground situation has always kept us better prepared to identify and manage such issues confidently. As we had mentioned in our previous interactions, we had emanated pockets of stress across the country due to elevated indebtedness levels. Hence, we have proactively developed a cautious approach in terms of growth in microfinance space and have beefed up our vigilance to manage asset quality.

Ujjivan has constantly strategized to de-risk its portfolio by introducing more secured products in its offerings. In last 18 months Bank has launched products like Micro Mortgages, Gold Loan, Vehicle Loan, Agri and Working Capital (SME) loans and they are increasingly contributing to the overall asset book each month. This also reflects in our faster growth in secured asset portfolio, growing 12% sequentially. Currently our secured book contribution stands at 34.9% in Sep’24 vs 31.3% in Jun’24. Total asset book grew 14% YoY/1% QoQ to Rs 30,344 crore in Sep’24. CD ratio is at 89%, with healthy total deposit growth at 17% YoY/5% QoQ to Rs 34,070 crore. Introduction of solution-based products and increasingly enhancing product suite and delivery of quality service has continued to bring customer delight. Our CASA deposits continue to improve at Rs 8,832 crore up 6% QoQ now contributing ~26% to the total deposits. Our service channels like Hello Ujjivan, our home-grown app is enabled with self-onboarding processes of repeat, pre-approved, and top-up loans for Individual Loans segment. Additionally, we continue to evolve and improve our business net banking by offering tax payment facility. We have also secured AD-1 licence that will enable us to offer range of forex services, increasing offerings to our MSME and retail customers. This will also benefit our Other Income in the upcoming quarters. Collections are slightly impacted, primarily on the Group loan segment at 97% in Sep’24 vs 98% in Jun’24. This also reflects in the stress appearing on overall GNPA at 2.5% in Sep’24 vs 2.3% in Jun’24. Our cautious approach by introducing stricter norms compared to MFIN guidelines will ensure quality acquisition.

NIM for the quarter at 9.2% was supported by cost of funds stable at 7.5%. PPoP for the quarter was at Rs 461 crore and PAT for the quarter was Rs 233 crore. This was impacted due to much slower growth vs previous quarters on account of impact on our Micro Finance Business book and due to rising credit cost. We are confident of our business as we progress to build a ‘bank of the future’ diversifying our portfolio, increasing secured asset portfolio, leveraging on our strengths and presenting ourselves as widely accepted Bank for the masses.

Result PDF

Ujjivan Small Finance Bank announced Q1FY25 results:

  • Assets
    • Gross loan book at Rs 30,069 crore up 19%/1% YoY/QoQ
    • Secured book at 31.3% as of Jun’24 vs 30.2% as of Mar’24
    • Disbursements were at Rs 5,286 crore in Q1FY25 at par YoY and down by 21% QoQ
  • Collection and Asset Quality
    • Collections Efficiency at ~98% efficiency in Jun’24; NDA collection consistently at ~99%
    • Portfolio at risk at 4.2% as of Jun’24; GNPA* at 2.3% as of Jun’24 vs 2.1% as of Mar’24; NNPA* at 0.4% as on Jun’24 vs 0.3% as on Mar’24
    • Q1FY25 write-off at Rs 59 crore; Provision coverage ratio as on Jun’24 is 84%
  • Deposits
    • Deposits at Rs 32,514 crore as of Jun’24 up by 22%/3% YoY/QoQ
    • CASA at Rs 8,334 crore up 27% YoY; CASA ratio at 25.6% as of Jun’24 vs 26.5% as of Mar’24
    • Retail TD grew 42%/14% YoY/QoQ
  • Financials
    • Q1FY25 NII of Rs 941 crore up 19% YoY / 1% QoQ; NIM at 9.3% for Q1FY25
    • Cost to Income ratio at 55% in Q1FY25
    • Q1FY25 PPoP at Rs 510 crore up 11% YoY; Q1FY25 PAT of Rs 301 crore down 7% YoY / 9% QoQ
    • Healthy return ratios as normalisation continues – RoA/RoE at 2.9%/20.9% vs 3.3%/24.8% in Q4FY24
  • Capital and Liquidity
    • Capital adequacy ratio at 24.8% with Tier-1 capital at 23.0%
    • Provisional Daily Average LCR for Jun’24 was 137%

Sanjeev Nautiyal, MD & CEO, Ujjivan Small Finance Bank said, “Our focussed business approach culminated with strong connect with the field aided in healthy asset book growth of 19% YoY to Rs 30,069 crore as of Jun’24. This was significantly supported by strong growth in secured asset book improving by 5% QoQ, especially led by affordable housing. As on Jun’24 the secured book proportion stands at 31.3% vs 30.2% as on Mar’24. I am happy to see that we are on track to meet our stated objective and will ensure to improve the secured book contribution to 40% of the total gross advances by end of next financial year. New business segments like Micro-mortgages, Gold Loans and Vehicle Finance will play a meaningful role offering an enhanced product suite to our customers and will see significant spurt in business volumes, offsetting the impact on yields due to rising secured book proportion. Our focus on building granularity in the deposit book reflects through the strong growth in retail deposits forming 73% of the total deposits up 37% YoY. Total deposits were Rs 32,514 crore up 22% YoY, with CASA ratio at 25.6% as at Jun’24. This healthy growth reflects our C/D ratios pegged at optimal levels of 85% (including IBPC/securitisation). We are confident that business volumes will improve post H1FY25 and our asset book growth guidance will be comfortably achieved. In addition, improving business productivity, enhancing value-add product offering, continually improving service level benchmarks, leveraging technology to enhance business processes will continue to be the mainstay to serve our customers better.

Our Bank has always strived for transparency and our prudent business approach has delivered strong business performance sequentially. During the last 2 quarters, signs of stress were visible in some isolated pockets of few states where we operate. Basis which we had developed a cautious approach especially towards acquiring new to credit customer and suitably moderated our disbursements. We are aware how the PAR book has increased to 4.2% in Q1FY25 from 3.5% in Q4FY24 but are equally confident that our collections stable at 98% underpinned by strong collection team will manage asset quality at healthy levels and our guidance on credit cost will stay intact. NIMs for Q1FY25 was at 9.3% aided by stable cost of funds at 7.5%. PPoP was at Rs 510 crore. Net Profit for the quarter was Rs 301 crore, this was lower vs last quarter as normalisation in credit cost continues. Our return ratios continue to be healthy with RoA at 2.9% and RoE at 20.9% for the quarter.”

Result PDF

Ujjivan Small Finance Bank announced Q4FY24 & FY24 results:

Assets

  • Disbursements were at Rs 6,681 crore/ Rs 23,389 crore in Q4FY24/FY24 up 11%/17% YoY
  • Affordable Housing disbursed Rs 730 crore/ Rs 2,284 crore in Q4FY24/FY24 up 66%/64% YoY
  • Gross loan book at Rs 29,780 crore up 24%/7% YoY/QoQ
  • Secured book at 30.2% as of Mar’24 vs 28.4% as of Dec’23

Collection and Asset Quality

  • Continued traction on Collections with ~99% efficiency in Mar’24; NDA collection consistently at ~100%
  • Portfolio at risk at 3.5% as of Mar’24; GNPA stable to 2.1% as of Mar’24 vs 2.1% as of Dec’23; NNPA continues to be negligible at 0.3% as on Mar’24
  • Q4FY24 write-off at Rs 65 crore; Provision coverage ratio as on Mar’24 is 87%

Deposits

  • Deposits at Rs 31,462 crore as of Mar’24 up by 23%/6% YoY/QoQ
  • CASA at Rs 8,335 crore up 24%/10% YoY/QoQ; CASA ratio at 26.5% as of Mar’24 vs 25.5% as of Dec’23
  • Retail TD^ grew 36%/7% YoY/QoQ

Financials

  • Q4FY24/FY24 NII of Rs 934/Rs 3,409 crore up 27%/ 26% YoY; NIM at 9.4%/ 9.1% for Q4FY24/ FY24
  • Cost to Income ratio at 55.7%/ 54.3% in Q4FY24/ FY24
  • Q4FY24/ FY24 PPoP at Rs 519/ Rs 1,917 crore up 26%/ 29% YoY; Q4FY24/ FY24 PAT of Rs 330/ Rs 1,281 crore up 7%/ 17% YoY

Capital and Liquidity

  • Capital adequacy ratio at 24.7% with Tier-1 capital at 22.6%
  • Excess system liquidity further moderated during the quarter
  • Provisional Daily Average LCR for Mar’24 was 134%
  • The board has recommended a final dividend of Rs 1.5 per share, subject to shareholders approval

Ittira Davis, MD & CEO, Ujjivan Small Finance Bank said, “Q4FY24 ended marking a strong close to another successful financial year, during which we were able to achieve quality growth. We have successfully completed the amalgamation process between Bank and its holding company. Our secured book improved by 177 bps to 30.2% this quarter. Disbursement during the quarter and year stood at Rs 6,681 crore and Rs 23,389 crore respectively. Affordable Housing (including Micro-Mortgages) has done well during the year disbursed Rs 730 crore and Rs 2,284 crore for the quarter and year respectively leading to Housing book growth of 45% for FY24. We expect this momentum to continue in the next year as well. Additionally, we are in the final stages of introducing a revamped LOS for the vertical, once completely operational it is expected to further improve business efficiency. Pre-Qualified Top-up loans has also been added to our product suite in the last quarter which will be beneficial for our existing Affordable Housing customers. The budding business segments Gold Loans and Vehicle Finance are generating increasing business month on month leveraging our large customer base and branch presence. Under our MSME vertical LAP products are doing well. We continue to augment our product suite and have onboarded new Fintech partners with a focus to grow our MSME book. This is to further aid in secured contribution to increase. On the deposit front, we continue to build granular and sticky book by improving our customer service and offering enhanced value add products. Our digital products like Digital SA & Digital FD will also help us acquire customer by providing them with seamless digital experience. Our retail deposits growth continues to outpace our bulk deposits growth indicating healthy deposit accretion. CASA book grew by 10% QoQ, sourcing around Rs 778 crore of CASA during the quarter. CASA ratio improved to 26.5% vs 25.5% last quarter. These resulted in a improvement in our CoF for the quarter. NIMs for the quarter was at 9.4%. We reported a PPoP of Rs 519 crore supported by our NII growing by 26% YoY and 9% QoQ. Collections remain strong for the quarter with March collection at around 99%. We see credit cost normalising hereon. PAT for the quarter and financial year was Rs 330 crore and Rs 1,281 crore up 7% and 17% YoY respectively. Strength of our underlying business continues to reflect in our strong financial performance over last 2 consecutive financial years. We generated a RoA /RoE of 3.5% /26.1% respectively for FY24.”

Result PDF

Ujjivan Small Finance Bank announced Q2FY24 results:


1. Financial Performance:
- NII increased by 24% YoY, reaching Rs 823 crore.
- NIM at 8.8% for Q2FY24
- PAT grew by 11% YoY, totaling to Rs 328 crore.
- Gross loan book increased by 27% YoY, reaching Rs 26,574 crore.
- Q2FY24 PPoP at Rs 483 crore up 26% YoY

2. Asset Quality:
- GNPA decreased to 2.2% as of September 2023, compared to 2.4% in June 2023.
- NNPA remained negligible at 0.09%.
- Portfolio at Risk (PAR) stood at 3.7% as of September 2023.
- Total of Rs 56 crore written-off in Q2FY24
- Provision coverage ratio as of September 2023 is 96%

3. Deposit Growth:
- Total deposits increased by 43% YoY, reaching Rs 29,139 crore.
- Retail term deposits grew by 56% YoY.

4. Business Expansion:
- 39 new branches were added, increasing the total branch count to 700.
- Nationwide brand campaign and value-added liability products were launched to enhance brand recall and deepen relationships with stakeholders.

Ittira Davis, MD & CEO of Ujjivan Small Finance Bank said, “Q2FY24 was yet another impressive quarter in terms of business performance. Business momentum continued its strong uptrend as seen in the previous quarters. Disbursements at Rs 5,749 crore were strong registering a robust growth of 18% YoY and 9% QoQ. Our secured book in Affordable Housing and FIG continues their strong performance. Further, our newer offerings like Gold loans and two-wheeler loans targeted to meet the growing needs of our customer base are enhancing our product suite and will consequently aid growth. To provide further impetus to growth and brand awareness, we have introduced several initiatives during the quarter such as the launch of a nationwide brand campaign and value-added liability products targeting to enhance and deepen brand recall among our existing and potential stakeholders. Further, we have also opened 39 new branches, taking our total branch count to 700. In H2 we will be adding ~45 more branches, this will include the splitting of a few branches to better manage the volumes. All these efforts have resulted in healthy growth of liabilities for our Bank. Our CASA has crossed the Rs 7,000 crore mark, growing by 28% YoY and 7% QoQ. Further, our Retail TDs CASA grew 44% YoY to Rs 18,818 crore. Q2FY24 was yet another quarter where we marked Rs 300 crore PAT. This was supported by our healthy NII growing by 24% YoY and 4% QoQ. However, the Cost of funds remained elevated in the current quarter as well, leading to NIM compression of 43 bps vs last quarter. We continue to stick to our guidance on loan and deposit book growth. Further, we are also confident to maintain credit costs below 100 bps. Our strong focus on other initiatives such as ‘Hello Ujjivan’ is gaining acceptance among customers with 4.3 Lakhs downloads to date and total repayments of more than Rs 40 crore in Q2FY24. ‘Digital FDs’ which was recently launched is also expected to bring business in the upcoming quarters.

On the merger with our promoter, as per the order received from the Hon’ble NCLT, the shareholder’s EGM is being convened on 3rd Nov’23 by the Bank as well as Ujjivan Financial Services. Once the merger is approved by the shareholders of both companies, we will proceed with the remaining procedural and regulatory aspects. We expect the merger to be completed in Q4FY24.”

 

 

Result PDF

Ujjivan Small Finance Bank announced Q1FY24 results:

  • Assets:
    • Disbursements were at Rs 5,284 crore in Q1FY24 up 22% YoY
    • Continued strong quarterly disbursement in Housing and FIG; disbursed Rs 418 crore/ Rs 320 crore respectively – highest ever for both the segments
    • Gross loan book at Rs 25,326 crore up 30%/5% YoY/QoQ
  • Collection and Asset Quality:
    • Continued traction on Collections with ~99% efficiency in Q1FY24; NDA collection consistently at ~100%
    • Portfolio at risk at stable at 3.8% as of Q1FY24
    • GNPA declined to 2.4% as of Q1FY24 vs 2.6% as of Q4FY23; NNPA continues to be negligible at 0.06% as on Q1FY24
    • Total of Rs 60 crore written-off in Q1FY24; Provision coverage ratio as on Q1FY24 is 97.6%
  • Deposits:
    • Deposits at Rs 26,660 crore as of Q1FY24 up by 45%/4% YoY/QoQ
    • Retail TD grew 71%/8% QoQ/YoY
    • CASA grew 27% YoY taking the CASA ratio to 24.6% as of Q1FY24
    • Healthy retail liability customer acquisition
  • Financials:
    • Q1FY24 NII of Rs 793 crore up 32% YoY; NIM at 9.2% for Q1FY24
    • Cost to Income ratio at 52.8% in Q1FY24 vs 58.5% for Q1FY23
    • Q1FY24 PPoP at Rs 458 crore up 52% YoY; PAT of Rs 324 crore up 60% YoY
  • Capital and Liquidity:
    • Capital adequacy ratio at 26.7% with Tier-1 capital at 23.7%
    • Provisional LCR at 189% as of Q1FY24

Ittira Davis, MD & CEO, Ujjivan Small Finance Bank said, “FY24 has started on a very strong note as we hit another highest-ever profit figure. The growth has come from the strong platform built during FY23. Our disbursement has been strong, despite Q1 being the seasonally weakest quarter, taking our loan book past the Rs 25,000 crore mark. Among secured assets, Affordable Housing and FIG continue to show strong growth, while other products will start picking up towards the latter half of the year. During the quarter, we consciously reduced the excess liquidity which was driving negative carry and pulling our NIMs down. Deposits were up 45% YoY/ 4% QoQ driven by retail focus. Our credit cost for the quarter was minimal on the back of strong collections. While slippages continue to be under control, NPA recoveries have started to move toward normalization. Bad debt recoveries continue to be strong; we expect the same to be substantial this fiscal as well albeit lower than FY23. We remain confident of our sub-100 bps credit cost for FY24. We expanded our physical presence by 32 new branches during the quarter and look forward to adding ~70 more branches during Jul 23-Mar’24. Our VVV based mobile banking app – “Hello Ujjivan” targeting non-tech savvy customers continues to do well with 2.7 lakh customer downloads. Customers are increasingly using the app to transact. We are hopeful that “Hello Ujjivan” will bring several long-term benefits to the business and society as well.

We have been delivering sustained profitability with significant improvement in QoQ for the last six consecutive quarters. With our strong financial performance and growing business momentum, we have launched a national brand campaign to further establish our image as a mass-market bank. The business is delivering on all fronts and gives us immense confidence to re-assure our FY24 guidance shared at the beginning of the year.

On the merger with our promoter, the hearing of our application with the NCLT was completed on June 28, 2023, and we positively expect to receive the order soon, entailing directions for scheduling the meetings of the stakeholders and other directions as the NCLT may deem fit.”

 

Result PDF

Ujjivan Small Finance Bank announced Q4FY23 & FY23 results:

  • Disbursements were at Rs 6,001 crore/ Rs 20,037 crore for Q4FY23/ FY23
  • All-round growth with Housing and FIG crossing milestone of Rs 400 crore/ Rs 300 crore quarterly disbursement, disbursing Rs 439 crore/ Rs 318 crore respectively – highest ever for both the segments
  • Gross loan book at Rs 24,085 crore up 33%/10% YoY/QoQ
  • Continued traction on collections with ~100% efficiency in Mar’23; NDA collection consistently at ~100%
  • Portfolio at risk at 3.8% as of Q4FY23 vs 4.9% as of Q3FY23
  • GNPA/ NNPA declined to 2.6% / 0.04% as of Q4FY23 against 3.4% / 0.05% as of Q3FY23
  • Total of Rs 67 crore written-off in Q4FY23; Provision coverage ratio as on Mar’23 is 98.4%
  • The restructured book falls below 1%; constitutes only 0.9% of gross loan book with provision cover of ~100% and collection efficiency of 111% in Mar’23
  • Deposits at Rs 25,538 crore as of Mar’23 up by 40%/10% YoY/QoQ
  • Retail TD grew 69%/10% QoQ/YoY
  • CASA grew 35%/11% QoQ/YoY taking the CASA ratio to 26.4% as on Mar’23
  • Healthy retail liability customer acquisition
  • Q4FY23/ FY23 NII of Rs 738/ Rs 2,698 crore up 36%/ 52% YoY; NIM at 9.1% for Q4FY23, 9.5% for FY23
  • Cost to Income ratio at 55.2% in Q4FY23 vs 64.0% YoY; 54.8% for FY23 down from 70.1% YoY
  • Q4FY23 PPoP at Rs 411 crore up 70% YoY; PAT of Rs 310 crore up 145% YoY; FY23 PPoP at Rs 1,485 crore up 133% YoY; PAT of Rs 1,100 crore vs Rs (415) crore in FY22
  • Capital adequacy ratio at 25.8% with Tier-1 capital at 22.7%
  • Provisional LCR at 180% as of Mar’23
  • Given the strong performance for the fiscal, the board has recommended a final dividend of 5% in addition to the 7.5% dividend already paid

Ittira Davis, MD & CEO, Ujjivan Small Finance Bank said, “FY23 started on a high note and ended on an even higher note as Q4FY23 marked several milestones in the Bank’s history, set benchmarks, and achieved success on multiple fronts. We delivered an all-round performance and met all our guidance. On one hand, we made new benchmarks for growth with all-time high disbursements, and on the other hand asset quality continued to show sequential and sustained improvement. Our deposits continued to outpace asset growth crossing the Rs 25,000 crore mark. We had a negligible credit cost for the year on the back of sustained collections – reduced slippages and strong recoveries. While slippages have normalised towards the year-end, recoveries may continue for a while. Our continued strong collections will ensure a sub-100 bps credit cost in FY24 as well. We picked up our branch expansion during the quarter with 31 new branches and will continue it in the new fiscal with around 100 branches. Among various other achievements on the digital side, the most remarkable one is the launch of our vvv based mobile banking app – “Hello Ujjivan” targeting non-tech savvy customers. The app has already received several industry accolades including Aegis Graham Bell Awards 2022 for Innovation in Consumer Tech and has seen 1.3 lakh downloads. We would continue to leverage our digital capabilities in addition to brick-and-mortar.

On the merger with our promoter, we filed our application with Honourable NCLT, Bengaluru, and are awaiting observations/ communication. We will keep the stakeholders informed on the same.

In FY24, we would be building on the base of FY23. The contribution of secured products in growth would see improvement as our strategy/ execution for respective verticals take clearer shape. Overall, we remain confident of the business growth (>25% gross loan book growth) and profitability (~22% RoE). We remain committed to our journey towards becoming a leading mass-market bank and contributing towards digital inclusion in India.”

 

Result PDF

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