Utkarsh Small Finance Bank has reported a 7.5% year-on-year (YoY) growth in its Gross Loan Portfolio as of March 31, depicting consistent growth in the midst of a tough market scenario. This achievement testifies to the bank's sustained interest in growing its secured loan book and maximizing disbursement yields.
Major highlights are:
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Growth in Gross Loan Portfolio: The portfolio registered strong growth led by strong performance from housing and MSME loans.
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Secured Loan Focus: The proportion of secured loans in the overall portfolio has been going up steadily in line with the bank's plans to improve asset quality.
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Deposit Growth: Retail Term Deposits have grown vigorously, helping to achieve a strong overall growth rate in deposits.
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Branch Network Expansion: The bank has been broadening its presence in India by adding new branches to meet increasing demand.
This growth highlights Utkarsh Small Finance Bank's resilience and strategic orientation towards diversification and building its financial foundation. The bank remains committed to judicious asset management as it navigates sectoral challenges.
Source: Utkarsh Small Finance Bank Press Release