Ujjivan Small Finance Bank Q3 Results 2023 has been declared on wednesday, January 24 2024. For the December 30 2023 quarter Ujjivan Small Finance Bank reports a 2.4% YoY rise in net profit at Rs 300 crore for the quarter. Operating profit increases by 17.5% to Rs 457 crore due to steady expansion of core income. Provisions and contingencies of Rs 63 crore are set aside in the last quarter compared to a net write-back of Rs 22 lakh in the year-ago period.
Net interest margin remains steady at 8.8% for the quarter. Net interest income rises 23% YoY.
The managing director of Ujjivan Small Finance Bank, Ittira Davis highlights healthy loan disbursements and a rising share of secured books.
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High deposit accretion is supported by strong CASA growth. Disbursements increase by 17% to Rs 5675 crore.
Gross loan portfolio rises by 27% to Rs 27743 crore at the end of December. The share of secured books increases from 27.5% to 28.3% in the last three months.
Asset quality improves with the gross non-performing assets (NPA) ratio falling to 2.18% from 3.64% a year ago.
Deposits increase by 28% to Rs 29,669 crore, and the current and savings accounts (CASA) ratio rises to 25.5% in the past three months.
Ujjivan Small Finance Bank is in the final stages of a reverse merger with its holding company, Ujjivan Financial Services. The National Company Law Tribunal is scheduled to hear the case. Managing director Davis expects the merger process to be completed within the current financial year.
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