Utkarsh Small Finance Bank Reports Strong Growth in Q4 2023-24

8 Apr 2024 , 11:50 AM

Utkarsh Small Finance Bank delivered a stellar performance in the fourth quarter of the fiscal year 2023-24, demonstrating substantial growth across its key business metrics.

As per the bank’s latest update on Friday, April 5, the Gross Loan Portfolio surged by an impressive 31.1% compared to the previous year, reaching ₹18,299 Crore as of March 31, 2024. Quarter-on-quarter, the Gross Loan Portfolio saw a notable growth of 11.5%.

Furthermore, the Total Deposits of the bank also witnessed a remarkable uptick, soaring by 27.4% compared to the previous year, reaching ₹17,473 Crore. Quarter-on-quarter, the Total Deposits exhibited a significant increase of 15.6%.

Of particular note is the substantial rise in Utkarsh Small Finance Bank’s CASA (Current Account and Savings Account) Deposits, which surged by 25.1% compared to the previous year and 18.8% compared to the preceding quarter, reaching ₹3,582 Crore.

Additionally, the bank’s Retail Term Deposits displayed robust growth, expanding by 42.9% compared to the previous year. Bulk Term Deposits also saw an increase of 12.3% compared to the previous year and 21.7% compared to the preceding quarter.

This balanced growth in deposits contributed to the bank’s CASA Ratio, which stood at 20.5% as of March 31, 2024. Furthermore, the CASA plus Retail Term Deposits Ratio reached 66.1%, indicating a healthy mix of deposits in the bank’s portfolio.

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