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Earnings

Cautious on loan growth in microfinance book: Ujjivan Small Finance

Updated : November 11, 2020 10:15 AM IST

Ujjivan Small Finance Bank’s collection efficiency during the September quarter was slightly on the lower side compared to peers, and quarter-on-quarter (QoQ) loan growth was the slowest ever.

“The only place where we are growing a little more cautiously is microfinance,” Nitin Chugh, Managing director and CEO, Ujjivan Small Finance Bank, said in an interview with CNBC-TV18.

“In housing and in MSE, we are back to pre-COVID levels as far as loans are concerned and those businesses are almost back on track. It is only in microfinance where we want to take a little bit of a deliberate and a calibrated approach,” he added.

Margins for the bank have contracted. “This is largely on the fact that we haven’t grown the disbursals as much and we are taking it very cautiously. There has been excess liquidity also that we have been holding onto as a prudent measure,” he said.

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