Ujjivan Small Finance Bank Reports Robust Q3 Performance: Deposit Growth Surges 16% YoY-finance

Ujjivan Small Finance Bank Reports Robust Q3 Performance: Deposit Growth Surges 16% YoY

2025-01-04

finance

Ujjivan Small Finance Bank (USFB) has posted a strong performance in the third quarter, with its total deposits increasing by 16% year-on-year (YoY) to reach ₹34,496 crore, up from ₹29,669 crore in the same period last year. This significant growth in deposits is a testament to the bank's efforts to expand its customer base and enhance its deposit franchise. The bank's ability to attract new deposits has been driven by its focus on providing innovative products and services, as well as its expanding network of branches and digital channels. As the bank continues to grow its deposits, it is well-positioned to support the credit needs of its customers and drive loan book expansion. With a strong capital base and a robust deposit growth trajectory, USFB is poised for long-term success in the banking sector. The bank's performance is a positive indicator of the growth potential in the small finance bank space, with key players like USFB driving financial inclusion and economic growth through their lending activities. Key trends in the banking sector, such as digital banking and financial inclusion, are expected to support the bank's future growth prospects. ...Read more

Recommendations