Ujjivan SFB brings down gross NPAs to sub-6 pc; advances up 38 pc to Rs 19,409 cr

NEW DELHI, July 5: Ujjivan Small Finance Bank (Ujjivan SFB) on Tuesday said it has brought down its gross bad loans proportion to sub-6 per cent as of April-June quarter-end, while its advances have registered a growth of over 38 per cent to Rs 19,409 crore.
The gross non-performing assets (NPAs) or bad loans of the bank which stood at 7.1 per cent at the end of fiscal ended March 2022, has been brought down significantly to 5.9 per cent as of June-end 2022, Ujjivan SFB said in a regulatory filing.
Also, there was a significant reduction in Portfolio at Risk (PAR) to 7.9 per cent, from 9.6 per cent, the filing added.
The disbursements for the quarter jumped over three-times to Rs 4,327 crore, from Rs 1,311 crore in April-June quarter of FY22, the bank said.
Total deposits grew by 34.8 per cent to Rs 18,433 crore, of which retail deposits were at Rs 10,761 crore, up 65.2 per cent from the year-ago quarter.
Ujjivan said its collection efficiency was 99 per cent for the months of May and June.
“It remains strong with persistent focus on stressed buckets and reducing incremental overdues,” it added.
The Small Finance Bank said the financial information with reference to Q1-FY23 is provisional and subject to an audit by the statutory auditors of the bank. (PTI)