Ujjivan Small Finance Bank Q2 Results: Profit up possibly, assortment productivity improves

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KOLKATA: Ujjivan Small Finance Bank NSE – 1.20 % on Saturday detailed a peripheral ascent in net benefit at Rs 96 crore for the September quarter against Rs 93 crore in the year back period, with its assortment productivity-improving to 93%.   

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CEO Nitin Chugh said with the business climate opening up slowly, the bank dispensed Rs 1,458 crore in the subsequent quarter, arriving at a near portion of the pre-Covid levels. Net advances developed 8% year-on-year to Rs 13,890 crore with non-miniature financial portfolio ascending to 24% against 21% in a similar period.   

The bank’s net revenue edge dunks a touch to 10.2% in the second quarter against 10.8% every year back, with the ascent in credit cost amid the pandemic-related pressure.   

The bank opened 5.1 lakh store accounts between April and September while retail stores have now developed to 49% of absolute stores as against 42% per year back. Stores remained at Rs 10,743 crore.   

The bank’s gross non-performing resources proportion was at 1% against 0.9% while the net proportion was at 0.1% contrasted and 0.3%. It has not perceived any NPA since August 31, following the Supreme Court request.   

  • Ujjivan Small Finance Bank Limited is an Indian bank that initiated the procedure on 1st Feb in 2017. Ujjivan Financial Services holds an eighty percent share in the bank. Their head office is situated in Bangalore, Karnataka. Ujjivan Small Finance Bank is authorized under Section 22 of the Banking Regulation Act, 1949 to complete a little money bank business and got Scheduled Bank status from the Reserve Bank of India in August 2017. The CEO of this bank is Nitin Chugh. The founder of the bank is Samit Ghosh. The bank has 55.3 Lakh+ Customer Base,575+ Banking Touchpoints,17k Employee Strength all over INDIA.  

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