Utkarsh Small Finance Bank reports sixth consecutive quarterly loss
Utkarsh Small Finance Bank experienced a loss of Rs 70 crore in the second quarter, marking six consecutive quarters of decline. The lender’s operating profit was Rs 85 crore, but provisions of Rs 166 crore led to the net loss. Its gross non-performing asset ratio improved slightly, standing at 5.96% at the end of September. The...
Key Takeaways
- Utkarsh Small Finance Bank experienced a loss of Rs 70 crore in the second quarter, marking six consecutive quarters of decline.
- The lender’s operating profit was Rs 85 crore, but provisions of Rs 166 crore led to the net loss.
- Its gross non-performing asset ratio improved slightly, standing at 5.96% at the end of September.
Utkarsh Small Finance Bank experienced a loss of Rs 70 crore in the second quarter, marking six consecutive quarters of decline. The lender’s operating profit was Rs 85 crore, but provisions of Rs 166 crore led to the net loss. Its gross non-performing asset ratio improved slightly, standing at 5.96% at the end of September. The bank's gross loan portfolio saw a year-on-year growth of 7.5%, reaching Rs 20,062 crore.
Original Publisher Attribution
This summary was curated from Economic Times.