Ujjivan Small Finance Bank announced Q1FY23 results: Gross advances at Rs 19,409 crore up 38% YoY and 7% QoQ Highest ever disbursements for Q1 – Rs 4,326 crore up 230% YoY Total provision is Rs 1,260 crore covering 6.5% of gross advances as on 30th Jun’22 (includes Rs 220 crore floating provisions; balance Rs 30 crore of floating provision has been moved to other provisions to include in Tier-II capital) Continued traction on Collections side at ~99% in Jun’22 Portfolio at risk continues to decline; 7.9% as of Jun’22 vs 9.6% as on Mar’22 GNPA/ NNPA declined to 5.9% / 0.1% as of Jun’22 against 7.1% / 0.6% respectively as of Mar’22; Rs 79 crore written-off in Q1FY23; Provision coverage ratio as on Jun’22 is 98% (including floating provisions of Rs 220 crore) Substantial reduction in restructured book; constitutes 3.4% of gross advances with provision cover of 59% Deposits at Rs 18,449 crore as of Jun’22 up by 35% YoY; Retail deposits at 58% of total deposits against 48% as of Jun’21; CASA ratio at 28% in Jun’22 vs 20% in Jun’21. Retail banking CASA grew 104% YoY crore contributing 78% to total CASA; healthy retail liability customer acquisition. Net Interest Income of Rs 600 crore in Q1FY23; Net interest margin at 9.6% in Q1FY23 against 8.0% in Q1FY22 Operating expenses to average assets at 7.1%; Cost to Income ratio at 61% in Q1FY23 vs 65% in Q1FY22 PPoP at Rs 271 crore vs Rs 161 crore in Q1FY22; PAT of Rs 203 crore vs Rs (233) crore YoY Capital adequacy ratio at 20.03% with Tier-1 capital at 18.70%; Liquidity coverage ratio at 182% as of Jun’22 Mr. Ittira Davis, MD & CEO, Ujjivan Small Finance Bank said, “Q1FY23 marks a perfect all-round great beginning to FY23. We are very pleased with the outcome of our efforts have been successfully achieved as we stabilised our business in Q3, turned-around in Q4, and this quarter marks growth and profitability. On disbursement side, it was strongest ever first quarter reaffirming strong credit demand. We disbursed ? 4,326 crores improving our loan book to ? 19,409* crore up by 38% Y-o-Y. Our deposit book continues strong growth – up 35% Y-o-Y. Retail deposits and CASA contribute to 58% and 28% of total deposit. PAR continues to improve, currently at 7.9%* vs. 9.6% as on Mar’22. This is largely due to normalisation of slippages and strong focus on collections. We continue to hold strong provisioning buffers on our books with PCR at 98%, resulting into NNPA of mere 0.1%. Our strategy to build granular liability base will remain our prime focus going ahead along with enhancing our digital capabilities which is resulting in improved business and productivity levels. We believe that recent business challenges have made us stronger and ready to capitalise on the opportunities ahead.” Result PDF