Ujjivan Small Finance Bank has recorded strong profitability growth during the September quarter this fiscal, which ended on September 30, 2022.
As per its filing, it garnered a profit after tax of Rs 294.29 crore in Q2 FY23, registering a growth of 45.01 per cent as against a PAT of Rs 202.94 crore in the first quarter of this fiscal (April to June).
The retail deposits at 61 per cent of total deposits against 52 per cent a year ago.
Its Net Interest Margin (NIM) came in at 9.8 per cent in Q2 FY23 expanding from 8.1 per cent in Q2FY22.
This is largely due to sustained collection efficiency at pre-covid levels and normalised slippages; while recoveries continue to be strong.
Source: BusinessToday
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