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Ujjivan Small Finance Bank Ltd.

BSE: 542904 Sector: Financials
BSE 00:00 | 20 May 16.90 0.05






NSE 00:00 | 20 May 16.95 0.10






OPEN 16.90
VOLUME 170772
52-Week high 34.35
52-Week low 14.15
Mkt Cap.(Rs cr) 2,921
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 16.90
CLOSE 16.85
VOLUME 170772
52-Week high 34.35
52-Week low 14.15
Mkt Cap.(Rs cr) 2,921
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Ujjivan Small Finance Bank Ltd. (UJJIVANSFB) - Chairman Speech

Company chairman speech

Growing with an inclusive agenda


These are uncertain times and we are doing our best to combat the COVID-19 crisiswhich has severely impacted millions of lives and livelihoods in all parts of the world.However we are hopeful of an early reboot and revival of India's economy with the helpand support of the Government of India and the regulators.

I am glad to serve your Bank as the Part-time Chairman; and it is my privilege to be atthe helm of a rapidly growing institution.

As you all know our mission is to provide a wide range of financial services toempower all sections of society especially the 'economically active' poor and remaincommitted to building financial inclusion in the country.

Despite challenges in the operating environment financial year 2019-20 saw us grow ourphysical and digital outreach significantly. During the year we offered more products andservices to our customers and strengthened our Board by adding new Board members.


The Bank undertook an IPO that was oversubscribed ~170 times.

This reflects the faith that retail and esteemed institutional investors have placed inour vision and strategies. Our IPO in 2019 is now widely considered to be the best IPO ofthe past four years in the banking and financial services sector. the team put insignificant efforts to comply with the regulatory guidelines and made this possible.

I thank all members of the team for their commitment and efforts.


Financial inclusion has always been a key priority of the Government of India and theReserve Bank of India (RBI). The banking sector and 'priority sector' lending has beenthe most explored channels to bring majority of the population under the ambit of formalcredit institutions. The RBI granted 'small finance bank' licences in the year 2015 tomake banking services accessible and affordable to the unserved and underserved segmentsthrough saving instruments; and providing credit to small business units small andmarginal farmers micro and small industries and other unorganised sectors.

In a short time span we have emerged as one of India's leading small finance banks interms of deposits advances branch network and geographic spread. Today we offer acomprehensive suite of asset and liability products and services that helps attract newcustomers and deepen our relationship with our existing customers.

people are our priority

We remain resolute in our 'people first' approach nurturing and developing talent. Ourfocus has always been on upskilling our people. This led us to introduce certifiedprogrammes like SFB Certification by Indian Institute of Banking and Finance (IIBF)

IT certifications by Institute for Development and Research in Banking Technology(IDRBT) to our people. During the year we also introduced several programmes on

SWAY@M a self-paced learning tool on different aspects of banking.

We have formulated and implemented Ujjivan Small Finance Bank-Employee Stock OptionPlan 2019 and Ujjivan Small Finance Bank-Employee Stock Purchase Scheme 2019 torecognise and reward the effort and commitment of our people for their association andperformance as well as to motivate them to contribute to the growth and profitability ofthe Bank.

leadership change

During the year under review our founder Mr. Samit Kumar Ghosh retired from hisposition as the Managing Director and CEO of our Bank. He is the principal architect whohas created this phenomenal institution with deep-rooted values and strong fundamentals.

Mr. Sunil Vinayak Patel also retired from his position as the Part-time Chairman of ourBank. He was a part of the Bank's journey right from pre-incorporation days. He played astellar role in guiding the Bank with his experience and expertise through its evolution.

On behalf of the Board of Directors (Board) I am delighted to welcome Mr. Nitin Chughas the Managing Director and CEO of our Bank.

He brings in extensive experience in retail and digital banking from a highly acclaimedbank. His illustrious track record combined with exceptional leadership and values makeshim the right choice to take our Bank to the next orbit of growth and sustainability. Iwish him the very best for all his present and future endeavours at the Bank.


We are committed to the highest level of corporate governance integrity and ethics.Our Board has an appropriate mix of Directors with diversity of thought experienceknowledge perspective and gender. Our Board has in total 10 (Ten) Directors including 6(six) Independent Directors

1 (one) Executive Director

1 (one) nominee Director and

2 (two) Non-executive Directors.

Mr. Mahadev Lakshminarayanan joined the Board as an Independent

Director and Mr. Umang Bedi as an Additional Director (Independent). Our leadershipstrength is well- balanced. We also have three women Directors on our Board.


As a responsible corporate citizen we commenced our Business Continuity Plan wellbefore the lockdown began. our quick response teams were entrusted to take care of ourcritical functions like customer care operations

It infrastructure and people liquidity and cost management.

Our Bank also constituted the Business Continuity Monitoring Committee a Board levelcommittee comprising 6 (six) Directors to direct suggest guide and advise appropriatemeasures to the Bank on various matters related to finance business risk compliancecredit dispensation and regulatory or other matters that may arise and may be necessary inthe interest of the Bank during this global pandemic.

These strategies helped us to continue with our business operations with over 98%branches and ATMs functioning along with all critical functions strictly complying withthe prescribed social distancing measures. We announced moratorium for all our customers(on an opt-out or on-request basis) and started a COVID-19 awareness programme in 11languages through calls and social media. We also organised a 'Doctor on Call' programmefor all our employees and customers.

We are taking all efforts to scale our customer outreach by making productcustomisations and amending the credit policy to support businesses under the currentcircumstances within the prescribed regulatory guidelines.


our aim is to drive greater financial and social impact while arriving at businessdecisions. We focus on financial literacy community development environment protectionand relief programmes. With dedicated initiatives such as Diksha we covered over 1 Lakhcustomers sensitising them towards financial discipline different financial tools andresponsible banking practices.

We also promoted environmental care through Project Swachh Neighbourhoodthat garnered support and appreciation from local authorities and communities. Ourcommunity development activity Chhote Kadam enhances quality of life of marginalisedcommunities with infrastructure projects that improve school buildings primary healthcentres and others. We also undertook relief programmes during natural calamities. Duringthe COVID-19 crisis our people volunteered to distribute dry ration to daily wagers andlow-income community members. We also provided financial assistance to Give IndiaFoundation and Indian Association for the Blind.


As per the regulatory requirement we have to bring down our Promoter shareholding to40% by January 31

2022. Hence we are evaluating various options to meet this requirement within theregulatory timelines prescribed by the RBI.


We remain committed to providing financial services to the unserved and underservedpopulation and being among the frontrunners of India's digital banking. We have theexpertise and the leadership to make it possible.

We are developing new and relevant products tailored to specific needs of customers.Concurrently we are maintaining one of the best portfolio quality and capital adequacy inthe banking sector; with consistent focus on rationalising our cost structure andconserving capital to fund our growth ambition.

On behalf of the Board I would like to thank all our stakeholders who have been andare a part of the incredible journey of ujjivan Small

Finance Bank. I would also want to place on record our sincere appreciation for ourregulators and stock exchanges for their continued guidance and support.

Your support and trust inspire us to create many more milestones in the coming years.

Warm regards
Biswamohan mahapatra