Ujjivan Small Finance Bank (USFB) has posted a 17% year-on-year (YoY) increase in total deposits, reaching ₹34,046 crore for the quarter ending September 30, 2024, up from ₹29,139 crore in the same quarter last year. Quarter-on-quarter (QoQ), deposits grew by 5%. The bank’s CASA deposits surged 26% YoY to ₹8,822 crore, maintaining a CASA ratio of 25.9%.
USFB’s Gross Loan Book rose by 14% YoY to ₹30,344 crore, driven by robust demand in the affordable housing sector, which saw disbursements jump 40% YoY to ₹758 crore. The secured loan book now accounts for 34.8% of the total, up from 27.5% last year.
In Kolkata, Ujjivan’s expanding footprint is evident, particularly in affordable housing and secured lending. The city has become a key market for the bank, contributing significantly to its growing loan book and boosting its deposit base with increasing CASA contributions. Asset quality saw a slight decline, with Gross NPAs rising to 2.5% from 2.2% a year ago. Collection efficiency also dipped to 97%. The Q2 results are provisional and await audit review by the bank’s statutory auditors.
