Ujjivan SFB spurts as deposits rises 24% in Q4 FY24

Ujjivan Small Finance Bank jumped 6.52% to Rs 54.40 after the bank's total deposits grew 24% to Rs 31,650 crore as of 31 March 2024 as compared with Rs 25,538 crore as of 31 March 2023.

Ujjivan Small Finance Bank's CASA deposits stood at Rs 8,332 crore as of March 2024, up 24% from Rs 6,744 crore as of 31 March 2023. CASA ratio reduced to 26.3% as of March 2024 as against 26.4% recorded in same period last year.

As on 31 March 2024, the bank's gross loan book stood at Rs 29,779 crore, up 24% YoY while disbursements stood at Rs 6,681 crore, up 11% YoY.

Furthermore, Ujjivan's asset quality continues to be strong. The GNPA ratio stood at 2.1% as of 31 March 2024, down significantly from 2.6% as on 31 March 2023.

Additionally, the banks collection efficiency improved to 99% in March, as against 98% posted in January and February 2024.

Credit to deposit ratio increased to 86.8% as of March 2024 compared with 85.8% as on March 2023.

Ujjivan Small Finance Bank was established as a non banking financial services company in the year 2005 with the mission to provide a full range of financial services to the economically poor who were not adequately served by financial institutions.

The bank reported 2.34% rise in net profit to Rs 300.06 crore on 35.62% jump in total income to Rs 1,655.39 crore in Q3 FY24 over in Q3 FY23.

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