Ujjivan Small Finance Bank expects decline in interest, fee incomes in FY21

The surplus liquidity carried as a buffer for the crisis period has led to a slight increase in finance cost for the last week of March

Ujjivan Small Finance Bank (SFB) is expecting contraction in interest and fee incomes this fiscal due to business disruptions caused by Covid-19 and ensuing lockdowns, its annual report has said.

The bank, however, said that the pandemic situation had a minimal impact on its books in FY 2019-20 as the nationwide lockdown was imposed in the last few days of March, by which time most of bank's collections had already come.

The 2019-20 annual report said the lockdown "did impact the typically high year-end growth momentum of March, and our volumes stood lower than that envisaged earlier and significantly lower