The bank has also said that it expects the credit costs for FY25 to be 1.7% as against the earlier guided range of 1.4% to 1.5%. The deposit growth is expected to be in line with asset growth.

While net interest margin (NIM) is to remain stable at around 9%, return on equity (RoE) is anticipated to be at 20% in FY25. The SFB had previously guided for an RoE of 22% for FY25.

The bank will see a change in leadership, with Sanjeev Nautiyal taking up the role of MD and CEO from 1 July 2024.

Ujjivan Small Finance Bank (Ujjivan SFB) is a subsidiary of Ujjivan Financial Services (UFSL), a microfinance company registered as an NBFC-MFI with the RBI. UFSL was one of the 10 entities to be granted ?in-principle? approval by the RBI on 16 September 2015, to set up a bank under the Guidelines for Licensing of Small Finance Banks in the private sector?. As on 31 March 2024, Ujjivan SFB has a branch network of 752 branches and has 596 biometric ATMs. The bank has a presence across 26 states and UTs in India and with an overall advance of around Rs 29,780 crore as on 31 March 2024, primarily spread across the micro-banking segment (GL: 54% and IL: 16%), retail housing (17%), MSE loan (5%), FIG (6%), and others (3%).

The bank had reported a total operating income of Rs 3,173 crore and a net loss of Rs 415 crore in FY24 as against a total operating income and PAT of Rs 4,754 crore and Rs 1,100 crore recorded in FY23.

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