Ujjivan Small Finance Bank recently released its Q2 results, and the numbers are impressive. The bank’s net profit rose by a whopping 11% compared to the same period last year, surpassing analysts’ estimates. The standalone net profit for the quarter stood at Rs 327.74 crore, beating Bloomberg’s estimate of Rs 307.46 crore. This is great news for the bank and its investors.
But that’s not all. The bank’s net interest income, also known as core income, saw a significant increase of 24.1% year-on-year, reaching Rs 823.34 crore. This indicates a strong performance in the bank’s lending activities.
In addition to the rise in profit and net interest income, Ujjivan Small Finance Bank also witnessed an improvement in its asset quality. The gross non-performing asset ratio fell by 27 basis points to 2.35% quarter-on-quarter, while the net NPA ratio rose by 3 basis points to 0.09% sequentially. These numbers reflect the bank’s efforts to manage its loan portfolio effectively.
Overall, Ujjivan Small Finance Bank’s Q2 results demonstrate its resilience and ability to deliver strong financial performance. The bank has exceeded expectations and continues to make strides in the banking industry. With its focus on customer satisfaction and prudent financial management, Ujjivan Small Finance Bank is well-positioned for future growth and success.
(This is a developing story)
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