Ujjivan Small Finance Bank s net profit for Q1 2021 increased by 60% to INR 324 crore YoY, with gross loan book up 30% YoY to INR 25,326 crore. Despite a 40 basis point fall in net interest margin (NIM) to 9.2%, net interest income rose 32% YoY to INR 793 crore. Operating profit also surged 52% to INR 458 crore.
Ujjivan Small Finance Bank revised its fixed deposit interest rates to 8.25 per cent for regular customers for 12 months and 8.75 per cent for senior citizens
The rally in Ujjivan Small Finance Bank shares can be attributed to an announcement made by the bank regarding the withdrawal of the additional director from the bank s board by the Reserve Bank of India.