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Centrum Broking Report
Ujjivan Small Finance Bank Ltd. results surprised positively with a beat on all fronts.
Net interest income was higher led by net interest margin driven by better funding cost.
Loan growth at 8% YoY was lower due to focus on collections. Pre-provision operating profit was ahead of estimate due to lower opex and priority sector lending certificate income.
The quarter saw buffer provisions of Rs 1.0 billion taking the total cover to Rs 3 billion.
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