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Geojit Research Report
Ujjivan Small Finance Bank Ltd. the wholly owned subsidiary of Ujjivan Financial Services Ltd. serves over 54.7 lakh customers through 524 branches and 17,370 employees spread across 244 districts of 24 states in India with gross loan book size of Rs.14,366 crore.
Also, it has about 474 full-service banking outlets with a deposit base of Rs.11,057 crore.
In Q1 FY21, Interest income witnessed a growth of 23% annualized driven by 22% YoY increase in advances.
With close to 77% of the lending to microfinance segment, provisions saw a spike of 45% sequentially with respect to lockdown. Collection efficiency improved and as on July 30, 2020 stands at 59% indicating bank is planning to get to pre Covid-19 levels.
For the quarter moratorium still stands at 47% magnifying the risk and going ahead expect better operational performance, but bottom line to hurt by higher provisioning in FY21E and FY22E.
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