UJJIVANSFB - Ujjivan Small
📢 Recent Corporate Announcements
Ujjivan Small Finance Bank has scheduled three virtual investor and analyst meetings in March 2026. The first meeting is with Kotak Institutional Equities on March 17, followed by a session organized by Emkay Global for existing and prospective investors on March 18. A final meeting with Bowhead is scheduled for March 25. The bank has confirmed that no unpublished price sensitive information will be shared during these interactions.
- Meeting with Kotak Institutional Equities scheduled for March 17, 2026, at 12:00 PM.
- Investor session organized by Emkay Global for multiple investors set for March 18, 2026.
- Virtual meeting with Bowhead scheduled for March 25, 2026, from 12:00 PM to 1:00 PM.
- All scheduled meetings are virtual and will be conducted from Bangalore.
- The bank clarified that meetings on March 17 and 18 were finalized at short notice.
Ujjivan Small Finance Bank has announced a series of investor interactions scheduled for mid-March 2026. The bank will conduct a branch visit in Baroda on March 13, organized by HDFC Securities, followed by multiple management meetings in Bangalore on March 18. Key institutional participants include IFC, Fidelity International, ICICI Prudential Life Insurance, and Bandhan Mutual Fund. The bank has clarified that no unpublished price sensitive information will be shared during these interactions.
- Branch visit scheduled for March 13, 2026, in Baroda from 10:00 AM to 4:00 PM.
- Management meetings with four major institutional investors on March 18, 2026, in Bangalore.
- Participating institutions include IFC, Fidelity International, ICICI Pru Life, and Bandhan Mutual Fund.
- Meetings are conducted in person to facilitate institutional engagement.
- Bank confirms compliance with SEBI (LODR) 2015 regulations regarding information disclosure.
Ujjivan Small Finance Bank has scheduled a virtual investor meeting with Polar Capital Holdings PLC on March 12, 2026. The meeting is scheduled to take place from 4:30 PM to 5:30 PM. The bank has officially confirmed that no unpublished price sensitive information (UPSI) will be shared during this interaction. This disclosure is part of the bank's routine compliance under SEBI (LODR) Regulations 2015.
- Virtual meeting scheduled with Polar Capital Holdings PLC on March 12, 2026
- Interaction time set for one hour between 4:30 PM and 5:30 PM
- Official confirmation that no unpublished price sensitive information will be disclosed
- Intimation filed under Regulation 30 of SEBI (LODR) Regulations 2015
Ujjivan Small Finance Bank has announced a series of investor and analyst interactions scheduled between March 11 and March 20, 2026. The schedule includes one-on-one meetings with Bellwether Capital and East Spring Investments. Furthermore, the bank has organized branch visits for institutional investors in Bangalore, Patna, and Indore, facilitated by Ambit, ICICI Securities, and Elara Capital. These interactions are part of the bank's routine investor relations program to provide operational insights.
- Management meeting with Bellwether Capital scheduled for March 11, 2026, in Bangalore.
- Virtual interaction with East Spring Investments set for March 13, 2026.
- Three branch visits organized by Ambit, ICICI Securities, and Elara Capital across Bangalore, Patna, and Indore.
- The bank confirmed that no unpublished price sensitive information (UPSI) will be shared during these sessions.
Ujjivan Small Finance Bank has announced two upcoming interactions with institutional investors and analysts in March 2026. The first engagement is an in-person meeting with Birla Mutual Fund on March 5, 2026, in Bangalore. The second is a virtual appearance at the Bharat Connect Conference: Rising Star on March 9, 2026. These meetings are part of the bank's regular investor relations activities and are conducted in compliance with SEBI regulations.
- In-person meeting scheduled with Birla Mutual Fund on March 5, 2026, from 10:00 AM to 12:00 PM.
- Virtual participation in the Bharat Connect Conference: Rising Star on March 9, 2026, from 4:00 PM to 5:00 PM.
- The bank has explicitly confirmed that no unpublished price sensitive information (UPSI) will be shared.
- Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) 2015.
Ujjivan Small Finance Bank has successfully passed a special resolution to appoint Mr. Aniruddha Paul as an Independent Director. The resolution received overwhelming support, with 99.99% of the valid votes cast in favor. A total of 79.41 crore valid votes were polled, representing approximately 40.96% of the bank's total paid-up equity share capital. This appointment follows a month-long postal ballot process conducted via electronic voting.
- Special resolution for appointing Mr. Aniruddha Paul as Independent Director passed with 99.99% majority.
- Total valid e-votes polled amounted to 79,41,41,929 shares, representing 40.96% of the total equity capital.
- Institutional investors polled 69.80 crore votes, with 100% of those votes in favor of the resolution.
- The e-voting process was conducted over a 30-day period ending February 27, 2026, with 1,700 members participating.
- Only 54,083 votes (0.0068%) were cast against the resolution, indicating strong shareholder consensus.
Ujjivan Small Finance Bank has appointed Mr. Pankaj Gupta as its Chief Digital Officer effective February 17, 2026. Mr. Gupta brings over 30 years of extensive experience in IT, Cloud, and Digital services, having previously led digital transformation initiatives at Karnataka Bank. This strategic hire is aimed at strengthening the bank's digital and analytics capabilities, which are critical for scaling operations in the small finance banking sector. The appointment reflects the bank's focus on modernizing its technological infrastructure to improve customer acquisition and operational efficiency.
- Mr. Pankaj Gupta appointed as Chief Digital Officer effective February 17, 2026
- Brings over 30 years of cross-functional experience across IT, Cloud, and Digital services
- Previously served as Chief Digital & Marketing Officer at Karnataka Bank, anchoring their holistic transformation
- Held leadership roles at reputed firms including Sify Technologies, HCL Services, and Wipro Infotech
- Holds a B.E. in Electronics & Communications and a PG Diploma in Marketing from NMIMS Mumbai
Ujjivan Small Finance Bank has scheduled a series of institutional investor meetings between February 23 and February 27, 2026. The bank will engage with Citadel virtually on Feb 23, followed by an in-person meeting with UTI Mutual Fund in Mumbai on Feb 24. A significant four-hour session is also planned with Motilal Oswal AMC in Bangalore on Feb 27. The bank has confirmed that no unpublished price sensitive information will be disclosed during these interactions.
- Virtual meeting with Citadel scheduled for February 23, 2026, between 2:00 PM and 3:00 PM.
- In-person meeting with UTI Mutual Fund in Mumbai on February 24, 2026, from 3:00 PM to 4:00 PM.
- Extended in-person session with Motilal Oswal AMC in Bangalore on February 27, 2026, from 9:00 AM to 1:00 PM.
- The bank explicitly stated that no unpublished price sensitive information (UPSI) will be shared.
Ujjivan Small Finance Bank has approved the allotment of 1,936,509 equity shares following the exercise of stock options under its ESOP 2019 scheme. This allotment has resulted in an increase in the bank's paid-up equity capital from approximately Rs. 1,938.96 crore to Rs. 1,940.90 crore. The new shares have a face value of Rs. 10 each and are fully paid-up. The bank is currently in the process of obtaining final listing approvals from both the NSE and BSE for these additional securities.
- Allotment of 19,36,509 equity shares of face value Rs. 10 each under ESOP 2019
- Paid-up capital increased from Rs. 19,38,95,94,830 to Rs. 19,40,89,59,920
- Stakeholders Relationship Committee approved the allotment on February 05, 2026
- Final listing approvals for the new shares are currently being processed with NSE and BSE
Ujjivan Small Finance Bank has appointed Mr. Mohd Shakil Khan as the Head of Collections, effective February 02, 2026. Mr. Khan is a veteran in the BFSI sector with over 25 years of experience in credit risk, enterprise risk, and regulatory compliance. He has previously held leadership roles at institutions such as Tata Capital Housing Finance and Capital First. This appointment is aimed at strengthening the bank's risk framework and collection efficiency as it continues to scale its operations.
- Mr. Mohd Shakil Khan appointed as Head of Collections effective February 02, 2026
- Brings over 25 years of experience in Credit Risk and Enterprise Risk across leading BFSI firms
- Previously served as Chief Credit & Collections Officer at Sitara and held roles at Tata Capital and Capital First
- Holds a Leadership Development Program certification from Wharton Business School
- Expertise includes designing risk frameworks aligned with business growth and regulatory shifts
Ujjivan Small Finance Bank has announced a series of institutional investor meetings and conference participations scheduled for February 2026. The bank will engage with Capital World on February 4 and participate in three major industry conferences hosted by Systematix, Axis Capital, and Kotak. These interactions are part of the bank's routine investor relations program to discuss business outlook and performance. The bank has explicitly stated that no unpublished price sensitive information will be shared during these sessions.
- One-on-one meeting with Capital World scheduled for February 4, 2026, in Bangalore.
- Participation in the Manthan – Systematix India Annual Conference on February 9, 2026.
- Attendance at the Advantage India – Axis Capital Flagship India Conference on February 10, 2026.
- Participation in the Chasing Growth 2026 – Kotak Conference on February 25, 2026.
- All meetings are scheduled to take place in person across Bangalore and Mumbai.
Ujjivan Small Finance Bank has announced a series of four investor and analyst meetings scheduled throughout February 2026. The bank will participate in major institutional conferences hosted by Systematix, Axis Capital, and Kotak, as well as a meeting with Capital World. These interactions are part of the bank's routine engagement with the investment community to discuss business outlook and performance. The bank has confirmed that no unpublished price sensitive information will be shared during these sessions.
- Four separate investor/analyst engagements scheduled between February 4 and February 25, 2026.
- Participation in high-profile events including Axis Capital's 'Advantage India' and Kotak's 'Chasing Growth 2026' conferences.
- Meetings are scheduled to take place in Bangalore and Mumbai in both one-on-one and group formats.
- The bank explicitly stated that no unpublished price sensitive information (UPSI) will be disclosed.
Ujjivan Small Finance Bank (USFB) has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Aniruddha Paul as an Independent Director. The proposed appointment is for a three-year term effective from January 22, 2026, to January 21, 2029. The bank is conducting the vote via electronic means, with the e-voting period spanning from January 29 to February 27, 2026. This is a routine governance move to strengthen the board's independent oversight.
- Proposed appointment of Mr. Aniruddha Paul as Independent Director for a 3-year term.
- E-voting period scheduled to commence on January 29, 2026, and end on February 27, 2026.
- Cut-off date for determining shareholder eligibility was January 23, 2026.
- The resolution is being proposed as a Special Resolution via Postal Ballot.
- Final results of the voting process will be declared by March 01, 2026.
Ujjivan Small Finance Bank reported a robust Q3 FY26 with a Profit After Tax (PAT) of ₹186 crore and an improved ROA of 1.5%. The bank achieved its highest-ever quarterly disbursements of ₹8,293 crore, driving the gross loan book to ₹37,057 crore, up 21.6% Y-o-Y. Net Interest Margin (NIM) expanded to 8.2% as the cost of funds dropped by 26 bps sequentially to 7.08%. Asset quality remains stable with GNPA at 2.4% and a strengthened Provision Coverage Ratio (PCR) of 76%.
- Highest-ever quarterly disbursements of ₹8,293 crore, leading to 21.6% Y-o-Y loan book growth.
- NIM improved to 8.2% driven by a 26 bps Q-o-Q reduction in cost of funds and better product mix.
- Secured portfolio now constitutes 48% of the total book, with Affordable Housing growing 40.3% Y-o-Y.
- Deposits grew 22.4% Y-o-Y to ₹42,223 crore with CASA ratio maintained above 27%.
- Asset quality improved with PAR below 4% and PCR increasing by 3% Q-o-Q to reach 76%.
Ujjivan Small Finance Bank has announced a non-deal roadshow in the United Arab Emirates scheduled from January 28 to January 30, 2026. The bank's management will engage in one-on-one meetings with eight high-profile institutional investors, including the Abu Dhabi Investment Authority and Lunate Capital. These meetings are intended to enhance investor relations and provide updates on the bank's strategy without disclosing any unpublished price sensitive information. Such roadshows often precede increased institutional interest or potential future capital raising activities.
- Non-deal roadshow scheduled in UAE from January 28 to January 30, 2026
- Management to hold one-on-one meetings with 8 major institutional investors
- Key participants include Abu Dhabi Investment Authority, Lunate Capital, and Samena Capital
- Bank confirms no unpublished price sensitive information (UPSI) will be shared during the meetings
Financial Performance
Revenue Growth by Segment
Total gross advances increased by 8% YoY to INR 32,122 Cr as of March 31, 2025. The secured loan segment grew significantly by 52.9% YoY in Q2 FY26, while individual loans (IL) grew 9.3% YoY to INR 5,464 Cr. Net Interest Income (NII) grew to INR 922 Cr in Q2 FY26, an increase of INR 65.7 Cr quarter-on-quarter.
Geographic Revenue Split
While a full regional split is not provided, Karnataka is identified as a significant market where delinquencies increased dramatically following the implementation of the Microfinance Ordinance in Q4 FY25. The bank operates through 753 branches with at least 25% located in Unbanked Rural Centres.
Profitability Margins
Profit After Tax (PAT) for FY25 was INR 726 Cr. For Q2 FY26, PAT stood at INR 122 Cr. Net Interest Margin (NIM) improved to 7.9% in Q2 FY26 from 7.7% in Q1 FY26. Return on Assets (RoA) was 1.6% for FY25 (dropping to 1.0% in Q2 FY26) and Return on Equity (RoE) was 12.4% for FY25 (dropping to 7.7% in Q2 FY26).
EBITDA Margin
Pre-provision operating profit (PPOP) for FY25 stood at INR 1,689 Cr. The cost-to-income ratio remained stable sequentially at 66.4% in Q2 FY26. Operating expenditure for FY25 was INR 2,793 Cr, driven by an 8% increase in staff strength.
Capital Expenditure
The bank invested in 500+ technology projects in FY25. Automation initiatives (51 processes) delivered productivity gains equivalent to 88,566 man-days, saving over INR 14 Cr. Analytics and data infrastructure investments produced INR 100+ Cr in incremental business and INR 4 Cr in cost reductions.
Credit Rating & Borrowing
CARE Ratings reaffirmed 'CARE AA-; Stable' for long-term bank facilities (INR 500 Cr), NCDs (INR 500 Cr), and Fixed Deposits (INR 10,000 Cr) as of March 26, 2025. The Cost of Funds remained stable between 7.5% and 7.6% throughout FY25, concluding at 7.6% in March 2025.
Operational Drivers
Raw Materials
The primary 'raw material' for the bank is its deposit base, which stood at INR 37,630 Cr (up 20% YoY). Granular deposits account for INR 26,676 Cr (up 21% YoY). Cost of Funds (7.6%) represents the primary input cost.
Import Sources
Sourced domestically from a customer base of 95.1 Lakhs across India, with a focus on granular retail deposits which grew 21% YoY.
Key Suppliers
Not applicable as a financial institution; however, the bank relies on 95.1 Lakh depositors for its liability franchise and technology vendors for 500+ digital projects.
Capacity Expansion
The bank operates 753 branches as of FY25. It is expanding its secured book, which reached a 39% share of total advances in December 2024, up from 30% in March 2024.
Raw Material Costs
Interest expense on deposits is the primary cost. The Cost of Funds was 7.6% as of March 2025. The bank is utilizing liquidity buffers to support NIMs, which stood at 7.9% in Q2 FY26.
Manufacturing Efficiency
Productivity gains from automation equivalent to 88,566 man-days were achieved in FY25. The bank maintained a credit-to-deposit ratio of 84.9% (excluding IBPC).
Logistics & Distribution
Distribution is handled through 753 branches and digital channels. Staff expanded 8% to 24,374 personnel to support the growing network.
Strategic Growth
Expected Growth Rate
35%+
Growth Strategy
The bank aims to achieve 35%+ growth in its secured book by focusing on Affordable Housing, Micro Mortgages, MSME, and Gold Loans. It is also leveraging its new AD-1 license to enter the foreign exchange industry and using customer lifecycle analytics to increase product penetration.
Products & Services
Microfinance loans (JLG model), Affordable Housing loans, Micro Mortgages, MSME loans, Vehicle Finance, Gold Loans, Agri loans, Current and Savings Accounts (CASA), Fixed Deposits, Insurance products, and Foreign Exchange services.
Brand Portfolio
Ujjivan Small Finance Bank.
New Products/Services
Obtained AD-1 business license for Foreign Exchange services. New products include Gold Loans, Vehicle Finance, and Agri loans, with secured disbursements growing 78.8% YoY in Q2 FY26.
Market Expansion
Welcomed 9.1 Lakh new customers in FY25, reaching a total of 95.1 Lakhs (11% increase). Expansion is focused on increasing the secured loan mix to 50% of the total portfolio.
Market Share & Ranking
Ujjivan is the third largest small finance bank in India.
Strategic Alliances
Partnerships for insurance product penetration to generate non-interest commission income. Collaborates with IDRBT for cybersecurity drills.
External Factors
Industry Trends
The SFB industry is shifting toward secured lending to mitigate microfinance volatility. Ujjivan's secured mix increased from 30% to 39% in one year. Digital innovation is a key driver, with Ujjivan executing 500+ tech projects to maintain competitiveness.
Competitive Landscape
Competes with other Small Finance Banks and NBFC-MFIs. USFB is the 3rd largest SFB, navigating sector-wide stress through asset diversification.
Competitive Moat
Durable advantages include a 20-year track record in microfinance (since 2005), a strong granular deposit franchise (INR 26,676 Cr), and a robust digital stack. These are sustainable due to high switching costs in banking and deep rural penetration (25% of branches in unbanked areas).
Macro Economic Sensitivity
Highly sensitive to microfinance sector stress and regional legislative actions (e.g., Karnataka Ordinance). Credit costs totaled 2.45% of the Average Gross Loan Book due to sectoral challenges.
Consumer Behavior
Increasing demand for digital banking and secured credit products like housing and vehicle finance among the underserved segments.
Geopolitical Risks
Not disclosed as a primary risk, though the bank monitors global threat landscapes for cybersecurity.
Regulatory & Governance
Industry Regulations
Adheres to RBI SFB Licensing Guidelines: 75% of Adjusted Net Bank Credit to priority sectors; 50% of loans < INR 25 Lakhs; 25% of branches in Unbanked Rural Centres. Follows Basel III capital requirements.
Environmental Compliance
The bank received an 'Outstanding' ESG Impact Rating with a score of 76 for Environment, 84 for Social, and 83 for Governance.
Taxation Policy Impact
Not specifically detailed, though the bank reports PAT of INR 726 Cr after all provisions and taxes.
Legal Contingencies
Impacted by the Microfinance Ordinance by the Government of Karnataka, which caused a dramatic increase in delinquencies in Q4 FY25. The bank maintains a zero-tolerance policy toward regulatory breaches.
Risk Analysis
Key Uncertainties
Ongoing stress in the microfinance sector (61% of book) could further elevate credit costs, which were 2.45% in FY25. Slippages increased to 3.6% in 9MFY25 from 2.3% in FY24.
Geographic Concentration Risk
Significant exposure to Karnataka, where legislative changes impacted repayment behavior. The bank is mitigating this through micro-market analysis and regional diversification.
Third Party Dependencies
Conducts outsourcing risk assessments and thematic reviews to manage vendor dependencies.
Technology Obsolescence Risk
Mitigated by 500+ annual technology projects and the creation of a comprehensive data lake to disseminate insights.
Credit & Counterparty Risk
Gross NPA (GNPA) stood at 2.2% in FY25 but increased to 2.68% by December 2024 due to microfinance stress. The bank uses 'Guardrails 2.0' (tightened credit norms) to manage acquisition quality.