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The banks' CASA deposits increased 6.9% to Rs 2,785 crore as on 30 September 2023 as compared with Rs 2,605 crore as on 30 September 2022. CASA ratio stood at 19.9% as on 30 September 2023 as against 22.2% as on 30 September 2022.
As on 30 September 2023, the retail term deposits stood at Rs 6,448 crore, registering the growth of 50.5% as against Rs 4,285 crore as on 30 September 2022.
Gross loan portfolio as on 30 September 2023 stood at Rs 14,894 crore as against Rs 11,786 crore as on 30 September 2022, registering the growth of 26.4%.
Utkarsh Small Finance Bank is engaged in providing banking and financial services with a focus on providing financial services to the underserved and unserved sections. The Bank's microfinance lending activities are primarily focused in rural and semi-urban locations of the country while its other services are spread across the country.
The bank reported 20% increase in net profit to Rs 107 crore in Q1 FY24 from Rs 89 crore in Q1 FY23. Net interest income (NII) rose by 21% to Rs 422 crore in the first quarter from Rs 349 crore recorded in the same period last year.
The scrip rose 0.54% to Rs 59.80 on the BSE.
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