Utkarsh Small Finance Bank announced Q1FY24 results: Loan portfolio grew by 31.4% YoY to Rs 14,394 crore Deposits grew by 35.6% YoY to Rs 13,967 crore Strong asset quality with net NPAs at 0.33% as on June 30, 2023 Profit after tax increased by 20% YoY to Rs 107.50 crore in Q1FY24 Return on assets and return on equity stood at a healthy 2.3% and 21.1% respectively, during Q1FY24, and the Bank continues to invest in people, presence, products & processes/technology Bank expanded its footprints further by opening 21 banking outlets in Q1FY24, with a presence spread across 26 States & UTs through 851 banking outlets as on June 30, 2023 Speaking on the results, Govind Singh, MD, and CEO, Utkarsh Small Finance Bank said, “We are witnessing a healthy scaling up of our franchise towards microfinance & others retail loans i.e. MSME, housing and wheels segment as well as deposits build-up. We endeavor to be consistent in performance which leads us to focus on productivity and yield with granularity attached to it is the “Business-as-Usual” model for us. The Bank has raised equity capital of Rs 500 crore through IPO exercise which provides sufficient headroom for our growth plans. Our Return on Assets and Return on Equity stood at a healthy 2.3% and 21.1% respectively, during Q1FY24, and the Bank continues to invest in people, presence, products & processes/technology. Result PDF