Ujjivan Small Finance Bank’s net profit rose by 3.64% to Rs96cr in the quarter ended September 2020 as against Rs92.63cr during the previous quarter ended September 2019. Total Operating Income rose by 15.17% to Rs753.61cr in the quarter ended September 2020 as against Rs654.33cr during the previous quarter ended September 2019.
Gross Advances at ₹13,890 crore; grew 8% over Sep’19
Non-MicroBanking* portfolio contributes 24% of the portfolio against 21% as of Sep’19
Disbursement for Q2FY21 at ₹1,458 crore vs ₹3,606 crore at Q2FY20; Sep’20 disbursement at ₹556 crore
Secured portfolio is 23% of the total portfolio as on Sep’20 against 19% in Sep’19
GNPA at 1.0% and NNPA at 0.1% against 0.9% and 0.3% respectively as of Sep’19. The Bank has not recognised any NPAs since August 31, 2020, in line with the interim order of Hon. Supreme Court. If the said Order was not given effect to, pro-forma GNPA & NNPA would have been 1.2% & 0.3% respectively.
Deposits at ₹10,743 crore as of Sep’20 covering 77% of total advances
Retail deposits at 49% of the total deposits vs. 42% in Sep’19; CASA ratio at 16% vs. 12% in Sep’19
Net Profit of ₹96 crore in Q2FY21 against ₹93 crore in Q2FY20
Net Interest Income of ₹470 crore in Q2FY21 up by 21% over Q2FY20
Net Interest Margin at 10.2% in Q2FY21, against 10.8% in Q2FY20
Cost to Income ratio at 56.6% in Q2FY21 vs. 69.5% in Q2FY20
ROA/ ROE at 2.0%/11.6% in Q2FY21 vs. 2.4%/ 18.9% in Q2FY20; PPoP ROA at 4.9% in Q2FY21 vs. 3.7% in Q2FY20
Capital adequacy ratio at 31%, with Tier-1 capital at 30%; Liquidity coverage ratio at 177% as of Sep’20
Mr. Nitin Chugh, MD & CEO, Ujjivan Small Finance Bank said, “We are pleased with the collection trends as Oct’20 collection efficiency reached 93% including all collections/ 88% against Oct’20 dues. This has improved significantly over Sep’20 and Jun’20 collections at 89%/59% - including all collections. 91% of customers have started paying since end of moratorium on 31st Aug’20. We believe our collections are amongst the best in the industry. We continue to invest in the business and take proactive actions towards creating a strong and sustainable franchise. As the business environment is opening up gradually, we disbursed ₹1,458 crore in Q2 reaching close to half of the pre-covid levels. We utilised this period to ramp-up our liability business which is evident from the increased traction in customer acquisition (5.1 lakh deposit accounts in H1FY21), improving retail deposits (49% of total deposits as against 42% in Sep’19) and CASA (16% as against 12% in Sep’19). Another achievement of this quarter is the reduction in cost of funds by 30 bps Q-o-Q to 7.4%. As we strive to create a strong presence in the digital banking space, we adopted new technologies like RPA^, e-KYC, e-agreement etc. to further strengthen and digitize our processes; these coupled with various payment solutions through BBPS#, customised link-based payments offer better customer experience."
"Understanding these are the unprecedented times, we always stood up in support of our customers, right from providing assistance during lockdown to undertaking relief activities for the society at large. We continue to progress in this journey of being a new age digital mass market bank offering a suite of relevant and meaningful products for the unserved and underserved of the society,” Nitin Chugh added.