Press Release18 May 2024, 08:40 pm
Ujjivan Small Finance Bank Announces Highest Ever PAT of Rs. 1,281 crore for FY24, with Improving Margins and Growing Disbursements
AI Summary
Ujjivan Small Finance Bank recently announced its financial results for the year and quarter ended March 31, 2024. The bank reported strong profitability with a highest ever PAT of Rs. 1,281 crore, an increase of 17% Year-over-Year (YoY). The improvement in margins was driven by a lower cost of funds (CoF), a healthy CASA deposit base, and books growth driven by secured products. Disbursement increased by 11% and 17% YoY for Q4FY24 and FY24 respectively. Collection and asset quality remain healthy, with Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) at 2.1% and 0.3% respectively, and a Portfolio at Risk (PAR) of 3.5%. Deposits grew by 23% YoY to Rs. 31,462 crore, and the CASA ratio was 26.5%.
Key Highlights
- Highest ever PAT of Rs. 1,281 crore for FY24, an increase of 17% YoY
- Improving margins driven by lower CoF, healthy CASA, and secure book growth
- Disbursement increased by 11% and 17% YoY for Q4FY24 and FY24 respectively
- Healthy collection and asset quality with GNPA, NNPA, and PAR at 2.1%, 0.3%, and 3.5% respectively