Ujjivan Small Finance Bank Reports Net Profit Of Rs 294 Cr

Ujjivan Small Finance Bank reported a net profit of Rs 294 crore for the September quarter, its highest ever. The bank's net loss for the previous year was Rs 274 crore. Disbursement expansion and a decline in bad debt were cited as the reasons for the bank's improved performance.

Ittira Davis, MD & CEO, Ujjivan Small Finance Bank said, “We remain focused on building granular deposit franchise and continuously enhance digital capabilities to drive improved business and productivity levels. With recent capital raise and sustained high profitability, Sep’22 CRAR is far more than comfortable to capitalise on opportunities ahead.”

In the quarter ended September 2022, total operating income grew 53.97 per cent to Rs 993.18 crore from Rs 645.04 crore in the previous quarter ended September 2021.