Ujjivan Small Finance Bank reports 15 percent jump in net profit

Source : Sify
Author : Sify
Last Updated: Wed, May 20th, 2020, 03:19:08hrs
Ujjivan Small Finance Bank reports 15 percent jump in net profit

Mumbai: Ujjivan Small Finance Bank on Tuesday reported a jump in net profits for the quarter ending March 2020. The lending firm reported a growth of nearly 15 percent at Rs 73.15 crores from Rs 63.78 crore in the year-ago period.  

While, total income rose to Rs 809.65 crore during the quarter under review from Rs 602.23 crore in the corresponding quarter a year ago; net interest margin (NIM) stood at 10.8 per cent at the end of March 2020 as against 10.9 per cent a year ago.

The bank expects the mass market to show resilience and recover strongly and the economic package announced by government would also boost recovery and open various opportunities, it said in a statement.  

Also Read: In-Depth Coronavirus Coverage