India's Ujjivan Small Finance Bank falls as Q3 provisions triple

Ujjivan Small Finance Bank

24/01/2025 07:57

** Shares of Ujjivan Small Finance Bank  UJJI.NS  down ~3%
to 33.5 rupees
    ** Lender, whose largest segment is retail banking, reports
~64% y/y drop in Q3 profit as provisions triple 
    ** Provisions are funds kept aside to cover potential losses
on loans 
    ** Lender's gross non-performing asset (NPA) ratio rises to
2.68% from 2.18%, signalling deterioration in asset quality
    ** Indian banks grappling with rising bad loans in unsecured
retail sectors and credit cards, hurting profitability
    ** UJJI shares have lost 40% in value in the last 12 months

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))