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Ujjivan Small Finance Bank: Retail deposits 49 pc of total deposits; October’20 collections at 93 pc; NII rises by 21 pc in Q2FY21

Ujjivan Small Finance Bank: Retail deposits 49 pc of total deposits; October’20 collections at 93 pc; NII rises by 21 pc in Q2FY21

Kolkata, Nov 07 (UNI) Ujjivan Small Finance Bank ltd today announced its financial performance for the half year and quarter ended September 30, 2020, with retail deposits 49 per cent of total deposits and October'20 collections at 93 per cent.

Nitin Chugh, MD & CEO, Ujjivan Small Finance Bank, said, “We are pleased with the collection trends as Oct’20 collection efficiency reached 93% including all collections/ 88% against Oct’20 dues. This has improved significantly over Sep’20 and Jun’20 collections at 89%/59% - including all collections. 91% of customeRs have started paying since end of moratorium on 31st Aug’20."

"We believe our collections are amongst the best in the industry. We continue to invest in the business and take proactive actions towards creating a strong and sustainable franchise."

"As the business environment is opening up gradually, we disbuRs ed Rs 1,458 crore in Q2 reaching close to half of the pre-covid levels. We utilised this period to ramp-up our liability business which is evident from the increased traction in customer acquisition (5.1 lakh deposit accounts in H1FY21), improving retail deposits (49% of total deposits as against 42% in Sep’19) and CASA (16% as against 12% in Sep’19). Another achievement of this quarter is the reduction in cost of funds by 30 bps Q-o-Q to 7.4%."

"As we strive to create a strong presence in the digital banking space, we adopted new technologies like RPA, e-KYC, e-agreement etc. to further strengthen and digitize our processes; these coupled with various payment solutions through BBPS, customised link-based payments offer better customer experience. UndeRs tanding these are the unprecedented times, we always stood up in support of our customeRs , right from providing assistance during lockdown to undertaking relief activities for the society at large. We continue to progress in this journey of being a new age digital mass market bank offering a suite of relevant and meaningful products for the unserved and undeRs erved of the society. ”

Summary of Ujjivan Small Finance Bank Business Performance – Q2 FY 2020-21 :

Gross Advances at Rs 13,890 crore; grew 8% over Sep’19

Non-MicroBanking* portfolio contributes 24% of the portfolio against 21% as of Sep’19

DisbuRs ement for Q2FY21 at Rs 1,458 crore vs Rs 3,606 crore at Q2FY20; Sep’20 disbuRs ement at Rs 556 crore

Secured portfolio is 23% of the total portfolio as on Sep’20 against 19% in Sep’19

GNPA at 1.0% and NNPA at 0.1% against 0.9% and 0.3% respectively as of Sep’19. The Bank has not recognised any NPAs since August 31, 2020, in line with the interim order of Hon. Supreme Court. If the said Order was not given effect to, pro-forma GNPA & NNPA would have been 1.2% & 0.3% respectively.

Deposits at Rs 10,743 crore as of Sep’20 covering 77% of total advances

Retail deposits at 49% of the total deposits vs. 42% in Sep’19; CASA ratio at 16% vs. 12% in Sep’19

Net Profit of Rs 96 crore in Q2FY21 against Rs 93 crore in Q2FY20

Net Interest Income of Rs 470 crore in Q2FY21 up by 21% over Q2FY20

Net Interest Margin at 10.2% in Q2FY21, against 10.8% in Q2FY20

Cost to Income ratio at 56.6% in Q2FY21 vs. 69.5% in Q2FY20

ROA/ ROE at 2.0%/11.6% in Q2FY21 vs. 2.4%/ 18.9% in Q2FY20; PPoP ROA at 4.9% in Q2FY21 vs. 3.7% in Q2FY20

Capital adequacy ratio at 31%, with Tier-1 capital at 30%; Liquidity coverage ratio at 177% as of Sep’20.

UNI SJC AND

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