What’s new

• Gross loan book of ₹42,903 crore, up 28.9% YoY and 5.5% QoQ.
• CASA deposits surge 37.8% YoY but ratio dips to 26.8% from 28.6% QoQ.
• GNPA improves to 2.17% from 2.52% YoY; secured book now 50.2%.

Why it matters

Ujjivan SFB is delivering broad-based growth across housing, MSME, and new retail segments while improving asset quality. The dip in CASA ratio is the only mild strain in an otherwise strong quarter, and the shift to a 50%-plus secured book lowers risk.

What we’re watching

• Whether the CASA ratio stabilises or erodes further in coming quarters.
• Gold loan and vehicle finance traction, which drove 41.5% disbursement growth.
• Final audited numbers and any guidance on net interest margin.

The full read

Ujjivan Small Finance Bank is growing fast and cleaning up. Gross loans hit ₹42,903 crore, up 28.9% year on year, with strength across housing, MSME, and newer verticals like vehicle and gold loans. Disbursements jumped 41.5% to ₹9,252 crore. Deposits kept pace at 25.1% growth, and CASA deposits surged 37.8%, though the ratio slipped to 26.8% from 28.6% (the only soft spot). Asset quality is better: GNPA fell to 2.17% from 2.52%, and PAR is at 3.58%. The secured book now accounts for 50.2%, a meaningful shift. For a mid-cap bank, this kind of broad-based acceleration is rare. The open question is whether it can hold the CASA ratio while maintaining this growth clip.

Primary source: BSE · NSE