Kolkata: Ujjivan Small Finance Bank on Thursday reported a Profit After Tax (PAT) of Rs 310 crore for Q4FY23 and Rs1,100 crore for the entire fiscal year, marking its best-ever performance owing to the banks effective strategies and successful implementation of its business plan, according to a statement.
Loan disbursements stood at Rs 6,001 crore in Q4FY23 and Rs 20,037 crore for the fiscal year. This impressive achievement signifies Ujjivan Small Finance Banks ability to meet the financing needs of its customers and support their aspirations.
The banks gross loan book witnessed significant growth, expanding by 33% year-on-year and 10% quarter-on-quarter. This notable increase reflects the banks strong portfolio and its commitment to catering to diverse customer requirements.
The bank achieved an industry-best Portfolio at Risk (PAR) of 3.8%. Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) stood at 2.6% and 0.04% respectively, evidencing the banks proactive measures to maintain healthy asset quality.
The banks deposit base witnessed significant growth, with a 40% year-on-year increase and a 10% quarter-on-quarter increase, reaching Rs 25,538 crore. Notably, the bank experienced substantial growth in Retail Term Deposits (TD) by 69% year-on-year and 10% quarter-on-quarter, showcasing the trust and confidence of retail customers in the banks offerings.
Ujjivan Small Finance Bank reported a Net Interest Income (NII) of Rs 738 crore for Q4FY23 and Rs 2,698 crore for FY23, representing a strong year-on-year growth. The banks Net Interest Margin (NIM) stood at 9.1% for Q4FY23 and 9.5% for FY23, underlining its ability to effectively manage its interest spread.
The bank has demonstrated commendable cost management, as indicated by the decline in the Cost to Income ratio from 64.0% to 55.2% for Q4FY23 and from 70.1% to 54.8% for FY23, highlighting its focus on operational efficiency.
Pre-Provision Operating Profit (PPoP) increased by 70% year-on-year to reach Rs411 crore in Q4FY23 and by 133% year-on-year to reach Rs1,485 crore in FY23.
The bank continues to maintain a strong capital position, with a Capital Adequacy Ratio of 25.8% and Tier-1 capital at 22.7%. Ujjivan Small Finance Bank also showcased its liquidity strength, with a provisional Liquidity Coverage Ratio (LCR) at 180% as of March 2023.
