Ujjivan Small Finance Bank has posted a net profit of Rs 293 crore in the December quarter as against a loss of Rs 34 crore a year ago.
The small financier, in the December quarter, was aided by a write-back in provisions and a growth in its loan book.
The bank wrote-back provisions worth Rs 22,00,000 in the quarter under review.
Gross non-performing asset ratio improved to 3.64% as on December 31 from 9.79% a year ago. Net non-performing asset ratio improved to 0.05% as on December 31 from 1.67% a year ago.
Portfolio at risk stands at 4.9% of the overall portfolio as on December 31, lower than 6.1% a quarter ago.
The restructured book constitutes 1.4% of gross loan book with provision cover of 64% and collection efficiency of 98% as on December 31.
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The bank wrote-off loans worth Rs 179 crore in October-December. Provision coverage ratio stood at 99% as on December 31.
Gross loan portfolio rose 33% year-on-year to Rs 21,895 crore as on December 31.
Micro loans and individual loans comprise 71% of the bank’s overall loan book. Individual loans rose 45% year-on-year as on December 31, the highest among all categories, the bank said in its investor presentation.
The bank disbursed loans worth Rs 4,838 crore in the December quarter.
Deposits rose 49% year-on-year to Rs 23,203 crore as on December 31. Retail deposits stood at 62% of total deposits, higher than 53% a year ago.
Current account savings account ratio fell slightly to 26.2% as on December 31 from 26.5% a year ago.
Net interest income rose 54% year-on-year to Rs 697 crore in the December quarter. Net interest margin rose to 9.4% in October-December from 9.1% a year ago.
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Capital adequacy ratio stood at 26.02% as on December 31. Provisional liquidity coverage ratio stood at 198% as on December 31.
On February 1, the bank has received a no-objection certificate from the Reserve Bank of India for the reverse merger of Ujjivan Financial Services with the small financier. The small financier expects to complete the reverse merger by September 30.