Introduction
THROUGH DECADES, BANKING HAS EVOLVED DRAMATICALLY, PUSHING PAST TRADITIONAL BOUNDARIES AND EMBRACING DIGITAL INNOVATIONS THAT ONCE WERE UNIMAGINABLE. AS A CORNERSTONE OF THE ECONOMY, BANKS MOBILISE RESOURCES, SECURE TRANSACTIONS, AND EXTEND CREDIT, FOSTERING ECONOMIC GROWTH AND STABILITY. THEY HOLD A VITAL POSITION OF TRUST, SAFEGUARDING PUBLIC WEALTH AND ENSURING THE CONTINUOUS DEVELOPMENT OF BANKING AND FINANCIAL SERVICES.
Driving sustainable
growth
This remarkable performance was registered despite various headwinds impacting the BFSI sector. I would also like to briefly touch upon the various challenges faced and opportunities presented for the Bank during the year. First, on the macroeconomic front, high inflation levels at the commencement of the financial year, especially food inflation, had prompted the government to take various supply-side measures. The RBI, on the other hand, postponed the withdrawal of accommodation to ensure that inflation progressively aligns to the target while supporting growth.
Mr. B. A. Prabhakar
Chairman
MEASURING OUR SUSTAINABLE GROWTH
CONSISTENCY SERVES AS THE BEDROCK OF OUR STRONG PERFORMANCE, PROVIDING A RELIABLE FOUNDATION FOR ASSESSING OUR PROGRESS AND IMPACT. THIS CHAPTER DELVES INTO THE METRICS THAT ILLUSTRATE OUR COMMITMENT TO SUSTAINABLE GROWTH AND FINANCIAL STABILITY.
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Delivering Profitable Growth
-
Strengthening Balance Sheet
-
Improving Key Ratios
-
Enhancing Asset Quality and Stability
₹ 6,464 Crores
Total Income
36% YoY
₹ 1,917 Crores
Pre-Provision Operating Profit
29% YoY
₹ 1,281 Crores
PAT
17% YoY
₹ 6.65
Earnings Per Share
₹ 40,422 Crores
Balance Sheet Size
21% YoY
₹ 23,389 Crores
Disbursements
17% YoY
₹ 29,780 Crores
Gross Loan Book
24% YoY
₹ 31,462 Crores
Total Deposits
23% YoY
₹ 13,750 Crores
Retail Term Deposit
36% YoY
₹ 3,409 Crores
Net Interest Income
26% YoY
3.5%
Return on Assets
26.1%
Return on Equity
9.1%
Net Interest Margin
54%
Cost Income Ratio
87%
Provision Coverage Ratio
24.7%
Capital Adequacy Ratio
2.1%
Gross NPA
0.3%
Net NPA
BPS 23
0.58%
Credit Cost
BPS 52
MAKING STEADY STRIDES
CONSISTENCY SERVES AS THE BEDROCK OF OUR STRONG PERFORMANCE, PROVIDING A RELIABLE FOUNDATION FOR ASSESSING OUR PROGRESS AND IMPACT. THIS CHAPTER DELVES INTO THE METRICS THAT ILLUSTRATE OUR COMMITMENT TO SUSTAINABLE GROWTH AND FINANCIAL STABILITY.
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Best of Our Operational
-
Best of Our Environmental
-
Best of Our People
-
Best of Our Community
-
Best of Our Governance
99%
COLLECTION EFFICIENCY (Upto 1 EMI)
9.1 Lakhs
NEW CUSTOMERS ADDED
10,400
LEADS GENERATED PER MONTH (PHONE BANKING)
₹ 31,462 Crores
REMARKABLE MILESTONE IN OUR DEPOSITS
123
NEW BRANCHES ADDED IN OUR NETWORK DURING FY 2023-24
₹ 3,554 Crores
RAISED FROM IBPC
100%
OFFICES EQUIPPED WITH ENERGY EFFICIENT LIGHTING
₹ 2.3
EMISSION INTENSITY (TONNES CO2 EQUIVALENT PER CRORE TURNOVER)
1.2 MT
OF REFURBISHED ELECTRONIC DEVICES CONTRIBUTED FOR EDUCATIONAL PURPOSES
24% YoY
Top 25
‘INDIA'S BEST WORKPLACESTM’ IN BFSI INDUSTRY 2023
Top 50
‘INDIA'S BEST WORKPLACESTM’ FOR CULTURE AND INNOVATION 2023
Top 100
‘INDIA'S BEST WORKPLACESTM’ FOR WOMEN 2023 (LARGE)
Top 50
‘GREAT PLACE TO WORKTM’ IN GENERAL CATEGORY
2,507
NEW WOMEN EMPLOYEES HIRED (DOUBLE FOLD INCREASE FROM FY 2022-23) OUT OF WHICH 349 WOMEN WERE UNDER ‘UNPAUSE INITIATIVE’
20
DIFFERENTLY ABLED EMPLOYEES AS ON MARCH 31, 2024
2.1%
Gross NPA
0.3%
Net NPA
BPS 23
0.58%
Credit Cost
BPS 52
₹ 6.34 Crores
CSR EXPENDITURE
2.4 Lakhs+
TOTAL BENEFICIARIES
50,000+
WOMEN EMPOWERED
ENSURING STEADY
AND STABLE GROWTH
₹ 6,464 Crores
Total Income
36% YoY
₹ 1,917 Crores
Pre-Provision Operating Profit
29% YoY
₹ 1,281 Crores
PAT
17% YoY
₹ 6.65
Earnings Per Share
₹ 40,422 Crores
Balance Sheet Size
21% YoY
₹ 23,389 Crores
Disbursements
17% YoY
₹ 29,780 Crores
Gross Loan Book
24% YoY
₹ 31,462 Crores
Total Deposits
23% YoY
₹ 13,750 Crores
Retail Term Deposit
36% YoY
₹ 3,409 Crores
Net Interest Income
26% YoY
3.5%
Return on Assets
26.1%
Return on Equity
9.1%
Net Interest Margin
54%
Cost Income Ratio
87%
Provision Coverage Ratio
24.7%
Capital Adequacy Ratio
2.1%
Gross NPA
0.3%
Net NPA
BPS 23
0.58%
Credit Cost
BPS 52
99%
COLLECTION EFFICIENCY (Upto 1 EMI)
9.1 Lakhs
NEW CUSTOMERS ADDED
10,400
LEADS GENERATED PER MONTH (PHONE BANKING)
₹ 31,462 Crores
REMARKABLE MILESTONE IN OUR DEPOSITS
123
NEW BRANCHES ADDED IN OUR NETWORK DURING FY 2023-24
₹ 3,554 Crores
RAISED FROM IBPC
100%
OFFICES EQUIPPED WITH ENERGY EFFICIENT LIGHTING
₹ 2.3
EMISSION INTENSITY (TONNES CO2 EQUIVALENT PER CRORE TURNOVER)
1.2 MT
OF REFURBISHED ELECTRONIC DEVICES CONTRIBUTED FOR EDUCATIONAL PURPOSES
24% YoY
Top 25
‘INDIA'S BEST WORKPLACESTM’ IN BFSI INDUSTRY 2023
Top 50
‘INDIA'S BEST WORKPLACESTM’ FOR CULTURE AND INNOVATION 2023
Top 100
‘INDIA'S BEST WORKPLACESTM’ FOR WOMEN 2023 (LARGE)
Top 50
‘GREAT PLACE TO WORKTM’ IN GENERAL CATEGORY
2,507
NEW WOMEN EMPLOYEES HIRED (DOUBLE FOLD INCREASE FROM FY 2022-23) OUT OF WHICH 349 WOMEN WERE UNDER ‘UNPAUSE INITIATIVE’
20
DIFFERENTLY ABLED EMPLOYEES AS ON MARCH 31, 2024
2.1%
Gross NPA
0.3%
Net NPA
BPS 23
0.58%
Credit Cost
BPS 52
₹ 6.34 Crores
CSR EXPENDITURE
2.4 Lakhs+
TOTAL BENEFICIARIES
50,000+
WOMEN EMPOWERED
ENSURING STEADY
AND STABLE GROWTH
THRIVING FOR TRANSFORMATIVE IDEAS
Mr. Ittira Davis
MD & CEO (w.e.f. January 14, 2022 to June 30, 2024)
FY 2023-24 has been also a year of consolidation. While scaling new highs, we also have successfully completed the merger process between the Bank and its Holding company. I would like to highlight that the merger has benefitted all our shareholders. The Bank is one strong listed entity, merger has benefitted book value per share to increase by ₹ 2.6 to ₹ 29.
READY FOR THE NEW
Mr. Sanjeev Nautiyal
MD & CEO (w.e.f. July 01, 2024)
Joining Ujjivan SFB is truly an honour, as its mission resonates deeply with my values. The commitment to becoming a leading mass-market bank, rooted in the philosophy of enhancing lives, speaks volumes about the organisation's dedication to inclusivity and progress.
THRIVING FOR TRANSFORMATIVE IDEAS
Mr. Ittira Davis
MD & CEO (w.e.f. January 14, 2022 to June 30, 2024)
FY 2023-24 has been also a year of consolidation. While scaling new highs, we also have successfully completed the merger process between the Bank and its Holding company. I would like to highlight that the merger has benefitted all our shareholders. The Bank is one strong listed entity, merger has benefitted book value per share to increase by ₹ 2.6 to ₹ 29.
READY FOR THE NEW
Mr. Sanjeev Nautiyal
President MD & CEO (w.e.f. July 01, 2024)
Joining Ujjivan SFB is truly an honour, as its mission resonates deeply with my values. The commitment to becoming a leading mass-market bank, rooted in the philosophy of enhancing lives, speaks volumes about the organisation's dedication to inclusivity and progress.
Empowering Communities with Seamless Banking
Extending Progress to the Grassroots
Empowering India’s Growth through MSME
Facilitating Affordable Home Ownership
Empowering Mobility through Finance
Enabling Banking Services for all
Growing Portfolio to Scale Competencies
Enhancing Footprints across BFSI, Corporate and Government Banking Segments
Banking with Empathy and Experience
Building and Growing Our Offerings
Evaluating ESG Performance Metrics
Our Sustainability Strategy is like a compass, guiding us towards a more inclusive, resilient, and sustainable future for all stakeholders. Ujjivan SFB's ESG dashboard serves as a window into our achievements for the year, while also setting bold targets and milestones to gauge our ongoing progress.
100%
Offices Equipped with Energy Efficient Lighting
1.2 MT
of electronic equipment Refurbished and Sent for Education Purposes for School Children
9.58 GJ*
of electricity generated through renewable resources (Solar power PV plant)
100%
Digitalisation of the contract management process
2.3
emission intensity (Tonnes co2 equivalent per crore turnover)
20%
Women Representation on Workforce
7.2%
Attrition Reduction during FY 2023-24
35.27
Training Hours Spent per Employee
Top25
‘India's Best WorkplacesTM’ in BFSI Industry 2023
20
Differently Abled Employees as on March 31, 2024
20%
New Women Hires, with 14% recruited under the ‘Unpause’ scheme
₹6.34 Crores
CSR Expenditure
60
CSR projects executed under various thematic areas
2.4 Lakhs+
Training Hours Spent per Employee
200 + Beneficiaries
from Orientation programmes focussed on skill development for employment
23%+
Projects Executed in BIMARU & Aspirational Districts
25,684+
Hours of Employee Volunteering
2,86,200 Hours
of financial literacy training to customers with 90% Women beneficiaries
40+ Years
Average Experience of the Board Members
75%
Non-Executive Directors
75%
Independent Directors
ISO 27001 :2022 + Beneficiaries
Certification obtained on Information Security Management system
ESG Disclosures-
Maiden BRSR, Sustainability & TCFD reports
50%
Gender diversity in Board independent directors
100%
Offices Equipped with Energy Efficient Lighting
1.2 MT
of electronic equipment Refurbished and Sent for Education Purposes for School Children
9.58 GJ*
of electricity generated through renewable resources (Solar power PV plant)
100%
Digitalisation of the contract management process
2.3
emission intensity (Tonnes co2 equivalent per crore turnover)
20%
Women Representation on Workforce
7.2%
Attrition Reduction during FY 2023-24
35.27
Training Hours Spent per Employee
Top25
‘India's Best WorkplacesTM’ in BFSI Industry 2023
20
Differently Abled Employees as on March 31, 2024
20%
New Women Hires, with 14% recruited under the ‘Unpause’ scheme
₹6.34 Crores
CSR Expenditure
60
CSR projects executed under various thematic areas
2.4 Lakhs+
Training Hours Spent per Employee
200 + Beneficiaries
from Orientation programmes focussed on skill development for employment
23%+
Projects Executed in BIMARU & Aspirational Districts
25,684+
Hours of Employee Volunteering
2,86,200 Hours
of financial literacy training to customers with 90% Women beneficiaries
40+ Years
Average Experience of the Board Members
75%
Non-Executive Directors
75%
Independent Directors
ISO 27001 :2022 + Beneficiaries
Certification obtained on Information Security Management system
ESG Disclosures-
Maiden BRSR, Sustainability & TCFD reports
50%
Gender diversity in Board independent directors