Ujjivan Small Finance Bank on Tuesday said it has brought down its gross bad loans proportion to sub-6% as of April-June quarter-end, while its advances have registered a growth of over 38% to Rs 19,409 crore.
The gross non-performing assets or bad loans of the bank which stood at 7.1% at the end of fiscal ended March 2022, has been brought down significantly to 5.9% as of June-end 2022, Ujjivan SFB said in a regulatory filing.
Also, there was a significant reduction in Portfolio at Risk to 7.9%, from 9.6%, the filing added.
The disbursements for the quarter jumped over three-times to Rs 4,327 crore, from Rs 1,311 crore in April-June quarter of FY22, the bank said.
Total deposits grew by 34.8 per cent to Rs 18,433 crore, of which retail deposits were at Rs 10,761 crore, up 65.2% from the year-ago quarter.
Ujjivan said its collection efficiency was 99% for the months of May and June.
"It remains strong with persistent focus on stressed buckets and reducing incremental overdues," it added.
The Small Finance Bank said the financial information with reference to Q1-FY23 is provisional and subject to an audit by the statutory auditors of the bank.
Shares of Ujjivan SFB were trading at Rs 15.75 apiece on BSE, up 3.62% from its previous close.
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