Ujjivan Small Finance Bank Hits 52-Week High With Strong Quarterly Performance

6 Oct 2023 , 03:15 PM

Ujjivan Small Finance Bank sees a more than 6% surge, hitting a fresh 52-week high of Rs 60.40 on October 6. Robust quarterly update highlights strong loan growth and improved asset quality.

Total deposits grow by 43% YoY to Rs 29,134 crore in July-September, with a 9% sequential increase. Advances rise by 27% YoY and 5% sequentially to Rs 26,600 crore. Disbursements increase by 18% YoY to Rs 5,749 crore in the quarter, with a 9% sequential rise.

Asset quality improves as gross NPAs drop to 2.2% from 2.4% in the previous quarter, compared to 4.4% in the same quarter last fiscal.

Stock records around 96% returns for the year, reaching a 52-week high. Pending merger of Ujjivan Small Finance Bank and Ujjivan Financial Services announced in October 2022 contributes to stock gains.

Shareholders in Ujjivan Financial Services to receive 11.6 shares of Ujjivan Small Finance Bank according to the swap ratio. Extraordinary General Meeting for shareholder approval scheduled for November 3.

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