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ICICI Securities Report
Ujjivan Small Finance Bank Ltd.'s core philosophy of driving business by focus on digital capabilities, customer-centricity, and financial inclusion harmonises well with India's increasing financial penetration, especially in rural areas.
Its pan-India presence with no single state contributing more than 20% of assets under management as at March 2021, coupled with an evolving product portfolio, would enable it to outpace systemic credit growth once the macro turns conducive.
While the bank's journey towards building secured assets is progressing well, its liability franchise is still evolving with retail deposits at 48% of total deposits and current account and savings account ratio at 15%.
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