© Simply 3 Capital
© Simply 3 Capital
Ujjivan Small Finance Bank Limited is a mass market focused bank in India, catering to financially unserved and underserved segments and committed to building financial inclusion in the country. It started its operations as Ujjivan Financial Services Limited, a Non-Banking Financial Company in 2005 with the mission to provide financial services to the ‘economically active poor’ who were not adequately served by financial institutions.
Ujjivan Small Finance Bank Limited is a mass market focused bank in India, catering to financially unserved and underserved segments and committed to building financial inclusion in the country. It started its operations as Ujjivan Financial Services Limited, a Non-Banking Financial Company in 2005 with the mission to provide financial services to the ‘economically active poor’ who were not adequately served by financial institutions.
A turnaround Story in making if new management is able to hold it up together and navigate through. On January 13 2022, Bank has announced that it has received the RBI approval for the appointment of Mr. Ittira Davis as its Managing Director & CEO for a period of 1 year.
Recently, Abakkus Growth Fund-2, has been allocated nearly 8.42 per cent of the equity shares offered in qualified institutional placement (QIP) which was done at 21.93
Ace investor Sunil Singhania is at the helm of Abakkus Growth Fund.
Commenting on Q2 FY 23 performance MD and CEO of Ujjivan Small Finance Bank, Mr. Ittira Davis said,
“Our focus this year is to consolidate our business and make them profitable, invest in new avenues of growth. Our economy is recovering. The credit demand has picked up. This is evident from our performance over the last three quarters. We look to grow our gross advances by around 30 per cent this year with deposits growing faster than advances. We are monitoring our costs very closely and aim to bring in efficiency through process improvement and productivity enhancement. We look to hold our cost-to-income ratio at the current levels.”
Current Price 25.75
Market Cap of 5032 crores
Current Price to Book Value of 1.7 .
Please click on link below to access information on Business Highlights for Q2 FY 23 -
# Disclaimer- Please note that this Blog has been created with the primary goal of providing its readers with up-to-date information on the Financial Markets. Its purpose is to share knowledge about Financial products, insights from Market experts, recent developments in the financial industry, and business-related information about companies. It is important to emphasize that the Blog should not be interpreted as providing any form of advice. It does not intend to recommend or endorse the buying, selling, or trading of any financial product. The Blog is purely educational in nature.