Shares of Ujjivan Small Finance Bank jumped as much as 12 percent on Friday after the lender posted a strong quarterly update.The lender’s total deposits rose 34 percent YoY to Rs 156 billion as of December 31, 2021, with retail deposits soaring 50 percent to Rs 83 billion. On a QoQ basis, total deposits were up 10 percent and retail deposits rose 14 percent.Disbursements for the quarter came in at Rs 48 billion which means a 120 percent YoY growth. Sequentially, disbursements rose 54 percent.Collection efficiency also improved gradually from 107 percent in October 2021 to 112 percent in December 2021.Also Read | Rise in COVID-19 cases, restrictions trigger fears of NPA surge Further, the bank's gross non-performing asset ratio also improved from 11.6 percent in October to 10.5 percent in December.“Improving trend in disbursements is likely to sustain in Q3FY22e given the steady improvement in collections during Q2FY22 reflecting resiliency of MFI customers, and higher growth in focused products like AHL, MSE etc. is likely to result in strong around 5 percent QoQ AUM growth during Q3FY22e. Focus on building retail deposit base would keep deposit mobilization accelerated at 4 percent QoQ,” said ICICI Securities.Also Read | Ujjivan Small Finance Bank raises interest rates on fixed depositIn a separate announcement, shareholders of the bank approved the appointment of Ittira Davis as the Managing Director.At 9:56 am, shares of Ujjivan Small Finance Bank were trading 8 percent higher at Rs 21.5 on BSE. The stock has been gaining for the last three days and has risen over 13 percent during the period.Catch up on all LIVE stock market highlights here.