<p>Ujjivan Financial Services Limited, the holding company, and promoter of its 100% subsidiary Ujjivan Small Finance Bank, on Wednesday reported a consolidated net profit of Rs 44.3 crore for the second quarter ended September 30, 2018. The company had posted a net loss of Rs 12 crore in the corresponding quarter of the last year.</p>.<p>Its net interest income for the second quarter stood at Rs 239.3 crore, an increase of 45.4% over the same period last year. Ujjivan's total income for the second quarter stood at Rs 467.4 crore, an increase of 23.6% over the corresponding quarter last year.<br />Its GNPA (Gross non-performing assets) stood at 1.9% and NNPA (net non-performing assets) at 0.3% in the second quarter against 5% and 1.4%, respectively in the second quarter of last fiscal.</p>.<p>Samit Ghosh, MD, and CEO of Ujjivan Small Finance Bank said, “The quarter witnessed improved growth and building on the business momentum. We expect the growth to pick-up in H2 leading to 30-35% AUM growth in FY19. We continue to improve our retail deposits business driven by the expansion of our branch network and our continuous marketing efforts. Retail deposits stand at 31%. The quarter also witnessed stressed liquidity in the money market."</p>.<p>He added that Ujjivan was not impacted because of conservative asset and liability structure of relatively short-term assets and longer-term liabilities inherited as a microfinance institution.</p>.<p>"In order to further strengthen our balance sheet we are raising by end of this financial year, $50 million of Tier-II capital from IFC which will serve a dual purpose of providing long-term funding and improve our capital adequacy. We are fully committed to abide by the RBI guidelines in terms of promoter holding dilution to 40% by January 2022 and listing of the Bank by January 2020 and are working out various options which are tax efficient and protects the interest of our shareholder."</p>.<p>Its loan book stood at Rs 8,317 crore, growth of 24.7% over the second quarter of last fiscal.<br />Ujjivan Small Finance Bank serves over 40.3 lakh customers through 462 branches and 13,169 employees spread across 223 districts and 24 states across the country.</p>.<p>Shares of the bank closed at Rs 217.50 on Wednesday on the BSE, up 3.03% from the previous close.</p>
<p>Ujjivan Financial Services Limited, the holding company, and promoter of its 100% subsidiary Ujjivan Small Finance Bank, on Wednesday reported a consolidated net profit of Rs 44.3 crore for the second quarter ended September 30, 2018. The company had posted a net loss of Rs 12 crore in the corresponding quarter of the last year.</p>.<p>Its net interest income for the second quarter stood at Rs 239.3 crore, an increase of 45.4% over the same period last year. Ujjivan's total income for the second quarter stood at Rs 467.4 crore, an increase of 23.6% over the corresponding quarter last year.<br />Its GNPA (Gross non-performing assets) stood at 1.9% and NNPA (net non-performing assets) at 0.3% in the second quarter against 5% and 1.4%, respectively in the second quarter of last fiscal.</p>.<p>Samit Ghosh, MD, and CEO of Ujjivan Small Finance Bank said, “The quarter witnessed improved growth and building on the business momentum. We expect the growth to pick-up in H2 leading to 30-35% AUM growth in FY19. We continue to improve our retail deposits business driven by the expansion of our branch network and our continuous marketing efforts. Retail deposits stand at 31%. The quarter also witnessed stressed liquidity in the money market."</p>.<p>He added that Ujjivan was not impacted because of conservative asset and liability structure of relatively short-term assets and longer-term liabilities inherited as a microfinance institution.</p>.<p>"In order to further strengthen our balance sheet we are raising by end of this financial year, $50 million of Tier-II capital from IFC which will serve a dual purpose of providing long-term funding and improve our capital adequacy. We are fully committed to abide by the RBI guidelines in terms of promoter holding dilution to 40% by January 2022 and listing of the Bank by January 2020 and are working out various options which are tax efficient and protects the interest of our shareholder."</p>.<p>Its loan book stood at Rs 8,317 crore, growth of 24.7% over the second quarter of last fiscal.<br />Ujjivan Small Finance Bank serves over 40.3 lakh customers through 462 branches and 13,169 employees spread across 223 districts and 24 states across the country.</p>.<p>Shares of the bank closed at Rs 217.50 on Wednesday on the BSE, up 3.03% from the previous close.</p>