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Ujjivan Small Finance Bank Ltd reports Q3 FY2019-20 financial performance

Posted On: 2020-01-22 22:26:31

Ujjivan Small Finance Bank Ltd. [BSE: 542904; NSE: UJJIVANSFB], today announced its financial performance for the quarter ended December 31, 2019.

Summary of Ujjivan Small Finance Bank Business Performance - Q3 FY 2019-20:

- Gross Advances at Rs. 13,617 crore; growth of 46% over Q3FY19
- Non-MicroBanking* portfolio now contributes 22% to the portfolio against 14% Q3FY19
- Disbursement for Q3FY20 at Rs. 3,403 crore; an increase of 18% over Q3FY19
- Secured portfolio constitutes 21% to the portfolio compared to 16% in Q3FY19
- GNPA at 0.9% and NNPA at 0.4% in Q3FY20 against 1.4% and 0.3% respectively in Q3FY19; write-off of Rs. 12 crore in Q3FY20
- Deposit base at Rs. 10,656 crore in Q3FY20 covering 78% of total advances against 58% in Q3FY19
- Retail deposits at 43% to total deposits vs. 36% in Q3FY19; CASA ratio at 12% vs. 10% in Q3FY19
- Net Profit of Rs. 90 crore in Q3FY20 against Rs. 45 crore in Q3FY19
- Net Interest Income of Rs. 427 crore in Q3FY20, an increase of 52% over Q3FY19
- Net Interest Margin at 10.9% in Q3FY20, against 11.0% in Q3FY19
- Cost to Income ratio at 71.3% in Q3FY20 vs. 77.8% in Q3FY19
- ROA/ ROE for Q3FY20 at 2.1%/ 14% vs. 1.7%/ 10.4% Y-o-Y

Summary of Ujjivan Small Finance Bank Business Performance - 9M FY 2019-20:

- Disbursement for 9MFY20 at Rs. 9,967 crore up 35% Y-o-Y
- Net Profit of Rs. 277 crore in 9MFY20 up 104% Y-o-Y
- Net Interest Income of Rs. 1,167 crore in 9MFY20, against Rs. 787 crore in 9MFY19
- Net Interest Margin at 10.7% in 9MFY20, against 10.8% in 9MFY19
- Cost to Income ratio decreased to at 68.5% in 9MFY20 from 75.8% in 9MFY19
- ROA/ ROE for 9MFY20 at 2.4%/ 15% vs. 1.8%/ 10.6% for 9MFY19

Mr. Nitin Chugh, MD & CEO, Ujjivan Small Finance Bank said, "Ujjivan Small Finance Bank complied with the Small Finance Bank licensing requirement of listing by end-Jan'20. Our IPO was well received by the markets and was 101 times subscribed making it the most successful IPO of 2019. Coming to the Q3 performance, it was remarkable in various aspects: (a) we maintained good asset quality despite market challenges, (b) increased digital transactions, and (c) continued to reduce TAT in our various asset businesses. Disbursement and book growth in Q3 is healthy and in line with our deliberate strategy to moderate customer acquisition in select pockets and focus on existing customers. However, NII growth, stable NIM, and lower cost of funds led to net profit growing 98% Y-o-Y to Rs 90 crores. We remain focussed on building a technology led Mass Market Retail Bank with focus on differentiated digital and service experience and financial inclusion covering the under-served and unserved."

Note: * MicroBanking includes Group Loans, Individual Loans and Rural Banking; Non-MicroBanking includes all asset verticals ex-MicroBanking

Source: Equity Bulls

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