India's Ujjivan Small Finance Bank slumps on Sept-qtr loss

Ujjivan Small Finance Bank

09/11/2021 05:06

** Indian small finance bank's shares  UJJI.NS  fall as much
as 15.3% to 18.50 rupees, track worst day in ~3 months 
    ** Ujjivan Small Finance Bank reported a net loss of 2.74
bln rupees ($36.93 mln) for the Sept quarter vs profit of 960
mln rupees a year earlier  urn:newsml:reuters.com:*:nFWN2RZ1GA
    ** Bank's asset quality saw a sequential deterioration as
percentage of gross bad loans to gross advances was 11.80% vs
9.79% in the previous qtr
    ** Revenues from Ujjivan's retail banking segment also
declined ~16% to 6.07 bln rupees for the qtr
    ** "We believe, subject to potential third wave of COVID-19,
our GNPA has peaked out and will gradually reduce" -  Ujjivan
    ** UJJI's net interest margin was at 8.1% in Q2 FY22 vs
10.2% in Q2 FY21
    ** Stock hits lowest level since Aug 23
    ** Including session's fall, UJJI stock down ~50% YTD


($1 = 74.1900 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))