Ujjivan Small Finance Bank (Ujjivan SFB) on Tuesday stated it has introduced down its gross dangerous loans proportion to sub-6 per cent as of April-June quarter-end, whereas its advances have registered a progress of over 38 per cent to Rs 19,409 crore.The gross non-performing belongings (NPAs) or dangerous loans of the financial institution which stood at 7.1 per cent on the finish of fiscal ended March 2022, has been introduced down considerably to five.9 per cent as of June-end 2022, Ujjivan SFB stated in a regulatory submitting. Also, there was a big discount in Portfolio at Risk (PAR) to 7.9 per cent, from 9.6 per cent, the submitting added.
The disbursements for the quarter jumped over three-times to Rs 4,327 crore, from Rs 1,311 crore in April-June quarter of FY22, the financial institution stated.Total deposits grew by 34.8 per cent to Rs 18,433 crore, of which retail deposits have been at Rs 10,761 crore, up 65.2 per cent from the year-ago quarter.
Ujjivan stated its assortment effectivity was 99 per cent for the months of May and June. “It remains strong with persistent focus on stressed buckets and reducing incremental overdues,” it added.
The Small Finance Bank stated the monetary data close to Q1-FY23 is provisional and topic to an audit by the statutory auditors of the financial institution. Shares of Ujjivan SFB have been buying and selling at Rs 15.75 apiece on BSE, up 3.62 per cent from its earlier shut.
Source: www.financialexpress.com”