Ujjivan Small Finance Bank Ltd, situated in Bengaluru, reported a 6.5% YoY increase in net profit to ₹329.6 Crore for the fourth quarter ending March 31, 2024.
Net interest income (NII), which is the difference between the interest revenue a bank receives from its lending activities and the interest it pays to depositors, surged 26.4% to ₹933 Crore from ₹738 Crore in the same quarter of FY23.
The gross non-performing asset (GNPA) ratio was 2.23% in the March quarter, compared to 2.18% in the December quarter. Net NPA was 0.28%, compared to 0.17% in the previous quarter.
The gross NPA was ₹612.5 Crore, up from ₹570.7 Crore in the previous quarter, while the net NPA was ₹76.3 Crore, up from ₹42.8 Crore.
In Q4FY24, disbursements increased by 11% to ₹6,681 Crore, while yearly disbursements grew by 17% to ₹23,389 Crore. The Affordable Housing segment experienced significant growth, disbursing ₹730 Crore in Q4 FY24 and ₹2,284 Crore for the fiscal year, resulting in year-on-year increases of 66% and 64%.
The gross loan book increased by 24% year-on-year and 7% quarter-on-quarter, reaching ₹29,780 Crore. Secured loans made up 30.2% of the portfolio as of March 2024, up from 28.4% in December 2023. In March 2024, the bank maintained a high collection efficiency rate of approximately 99%, with Non-Discretionary Advances (NDA) collections continuously at 100%.
The portfolio at risk was 3.5%, while Gross Non-Performing Assets (GNPA) remained steady at 2.1% from December 2023. As of March 2024, net non-performing assets (NNPA) was at 0.3%. The bank wrote off ₹65 Crore in Q4 FY24, maintaining an 87% provision coverage ratio.
Deposits reached ₹31,462 Crore in March 2024, up 23% year on year and 6% quarter on quarter. Deposits in the Current Account Savings Account (CASA) increased by 24% year on year and 10% quarter on quarter, reaching ₹8,335 Crore.
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