UJJIVANSFB.NSE Ujjivan Small Finance Bank Limited

Ujjivan SFB Q1 Earnings: The gross non-performing asset of the bank declined to 2.62 percent from 6.51 percent in the year-ago quarter

Ujjivan Small Finance Bank has fixed 14 July 2023 as record date for the purpose of determining the entitlement of members to receive final dividend on equity shares of the Bank, if approved.

As compared with 31 March 2023, the banks deposits have risen by 4%.CASA ratio was at 24.6% as on 30 June 2023 as against 27.9% as on 30 June 2022 and 26.4% as on 31 March 2023.Advances for the period ended 30 June 2023 amounted to Rs 25,346 crore, up 31% YoY and up 5% QoQ.Disbursements increased by 22% YoY to Rs 5,280 crore in Q1 FY24, driven by robust growth in microbanking, housing and FIG.Affordable Housing segment recorded quarterly disbursement of Rs 418 crore (up 45% YoY) and its gross loan book was close to Rs 3,700 crore.Collection Efficiency (including foreclosure advance etc.) was 110% in June 2023 as compared with 111% in June 2022 and 110% in March 2023.GNPA was at 2.4% as on 30 June 2023 as against 5.9% as on 30 June 2022 and 2.6% as on 31 March 2023.Ujjivan Small Finance Bank (Ujjivan SFB) serves approximately 77 lakh customers through 629 branches spread across 271 districts and 25 states and union territories in India.The bank had reported a PAT of Rs 310 crore (up 145% YoY) and net interest income of Rs 738 crore (up 36% YoY) for the quarter ended on 31 March 2023.

Despite recent outperformance, small private banks trade at a discount to larger banks and non-banking finance companies

Arihant Capital is bullish on Ujjivan Small Finance Bank has recommended buy rating on the stock with a target price of Rs 49.4 in its research report dated Jun 13, 2023.

YES Securities is bullish on Ujjivan Small Finance Bank has recommended buy rating on the stock with a target price of Rs 50 in its research report dated June 11, 2023.