Bengaluru, May 12, 2022: Ujjivan Small Finance Bank has made a remarkable turnaround, returning to profits for the first time in Financial Year 2021-22, reporting Net Profit of INR 127 crores for the period January to March 2022.
Announcing its financial performance for the quarter ended March 31, 2022, Mr. Ittira Davis, MD & CEO, Ujjivan Small Finance Bank said, “Q4FY22 has indeed been a strong quarter with the Bank completing the turnaround we envisaged under our 100-day plans put to execution beginning Sep’21; Q4 marks business turning profitable.”
“This was possible on back of strong business performance coupled with persistent efforts on collections, which stood at 100 per cent in Mar’22, further improving from 97 per cent in Dec’21. On disbursement side, we surpassed our previous best (INR 4,809 crores in Q3FY22) and disbursed ₹ 4,870 crores, improving our loan book to INR 18,162 crore,” Mr Davis said.
Ujjivan SFB’s Deposit Book continues strong growth – up 39 per cent Y-o-Y driving credit to deposit ratio to 99 per cent which is another achievement for Ujjivan. Retail deposits and CASA contribute to 54 per cent and 27 per cent of total deposit; implying increasing granularity of deposit book.
Portfolio At Risk (PAR) continues to decline, currently at 9.6 per cent down from 14.9 per cent as on Dec’21. This is largely due to healthy book and strong focus on collections, Mr Davis said.
