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Axis Securities Report
Ujjivan Small Finance Bank Ltd. in its mid-quarter business update indicated that while the business momentum has picked up post the phased unlock across geographies, it continues to witness headwinds on the asset quality front.
Disbursements in July 2021/August 2021 stood at Rs 974 crore/Rs 1,027 crore respectively versus Rs 660 crore in Q1 FY22.
Deposit franchise has been steady and stood at Rs 13,725 crore. The share of current accounts and savings account deposits grew from 20.3% in Q1 FY22 to 21.2% in August 2021.
Retail deposits, too, have witnessed an improvement from 47.6% in June 2021 to 51.3% in Aug-21.
Ujjivan SFB's collection efficiency bounced back strongly in June-21 and is currently near pre-Covid-19 levels at ~95%, marginally better than March-21 levels.
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