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    Ujjivan SFB CEO's guidance of a 30% growth in assets this year helps stock gain 4%

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    Ujjivan SFB CEO's guidance of a 30% growth in assets this year helps stock gain 4%

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    Ujjivan Small Finance Bank share price: Shares of Ujjivan Small Finance Bank rose more than 4 percent on Wednesday after the Chief Executive Officer reiterated that the non-bank lender’s assets under management will grow 30 percent this year.

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    Shares of Ujjivan Small Finance Bank rose more than 4 percent on Wednesday after managing director and chief executive Ittira Davis reiterated that the firm's assets under management would grow 30 percent this year.
    "We have indicated a growth trend of about 30 percent and that will be the way in which the assets under management (AUM) grows,” said Davis.
    At 10:12 IST, shares of Ujjivan Small Finance Bank were trading 2.3 percent higher at Rs 15.9 on the BSE.
    The company also said its advances grew 38 percent year-on-year (YoY) and nearly 7 percent quarter-on-quarter (QoQ) to Rs 19,409 crore. Gross non-performing assets (NPAs) came in at 5.9 percent in June 2022, down from 6.6 percent in May 2022 and from 6.9 percent in April 2022.
    Total deposits as of June end stood at Rs 18,433 crore, which implies a 34.8 percent growth YoY and 0.8 percent QoQ. Disbursements for the quarter rose around 230 percent YoY to Rs 4,327 crore, but sequentially, they were down 11.2 percent.
    The firm said the first quarter tends to be the slowest and the third and fourth are the real growth quarters. "So, from that perspective," he said, "while disbursals have fallen a bit in this quarter compared to last year, obviously, it's very high because of what happened last year during COVID."
    “The first quarter of the new financial year was in line with what we had indicated in the last announcements that we made after the full-year results were up,” Davis added.
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