Ujjivan Small Finance Bank ltd. [BSE: 542904; NSE: UJJIVANSFB] has announced its financial performance for the quarter ended September 30, 2024. Mr. Sanjeev Nautiyal, MD & CEO, Ujjivan Small Finance Bank, said, “Ujjivan has always stood strong and successfully navigated headwinds in the industry.”
Ujjivan has constantly strategized to de-risk its portfolio by introducing more secured products in its offerings. In last 18 months, Bank has launched products like Micro Mortgages, Gold Loan, Vehicle Loan, Agri and Working Capital (SME) loans, and they are increasingly contributing to the overall asset book each month.
This also reflects in our faster growth in secured asset portfolio, growing 12% sequentially. NIM for the quarter at 9.2% was supported by cost of funds stable at 7.5%. PPoP for the quarter was at ₹ 461 crore and PAT for the quarter was ₹ 233 crore. This was impacted due to much slower growth vs previous quarters on account of impact on our Micro Finance Business book and due to rising credit cost.
