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Analyst Meet / AGM
10-Nov-20
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Conference Call
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Ujjivan Small Finance Bank
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Maintaining strong control on costs, costs to remain stable in H2FY2021
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Ujjivan Small Finance Bank conducted a conference call on 7 November 2020 to discuss its financial results for the quarter ended September 2020. Nitin Chugh, MD&CEO of the bank addressed the call
Highlights:
- The bank has continued focus on collections with strong emphasis on digital payments. About 7000 employees are engaged in the collections. The bank has also achieved about 28% of collection through digital modes in Q2FY2021
- The bank has tied up with various partners like Mobivik, Paytm, Airtel Payments banks for digital payments collections.
- The collections have continued to improve and touched 88% and 93% including additional collection in October 2020. Collection efficiency for housing segment stands at 93% MSE at 86% personal loans at 88% and vehicle loans at 91% in October 2020.
- The bank continues its cautious approach on microfinance lending, the disbursement in the microfinance is expected to continue at Rs 100 crore per months, while normalcy is expected in few months.
- Regions wise South region is showing pick up, while east is slow. Among States Maharashtra, Assam, Punjab and West Bengal are witnessing collection efficiency of less than 80% due to various reasons.
- The bank has created additional 100 crore provisions for covid-19 and currently it has Rs 299 crore of covid-19 provisions amounting to 3% of micro banking loans. The overall provisions stands at Rs 470 crore amounting to 3.4% of the overall loan book.
- The bank is consistently raising provision coverage ratio for last one year.
- As per the bank they are able to control cost much better and would be able to retain some of the cost savings generated in H1FY2021. The bank expects the operating expenses to remain under control in H2FY2021.
- On liabilities side, the bank has improved CASA ratio as well as retail deposits ratio.the bank has added 5.5 lakh accounts in H1FY2021
- The bank is in the in the process of identifying accounts for restructuring.
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