The bank's loan book declined by 4% to ₹18,306 crore from ₹19,057 crore last year. It was also down 1.9% from the previous quarter's ₹18,655 crore.
On the
flip side, its deposits increased by 4.5% from last year to ₹21,087 crore in the December quarter from ₹20,172 crore in the year-ago period. On a sequential basis though, deposit growth was down 1.7%.
The joint liability group (JLG) loans witnessed a 34.1% decline to ₹6,419 crore from ₹9,737 crore in the previous year and a 15.7% decline from the previous quarter's figure of ₹7,613 crore.
However, non-JLG loans increased 27.6% to ₹11,888 crore from ₹9,320 crore in the year-ago period and were up 7.7% sequentially from ₹11,042 crore.
The lender's X bucket collection efficiency improved to 99.1% from 98.6% sequentially.
For Utkarsh and other microfinance lenders, the "X" bucke refers to highly delinquent category of loans, usually significantly overdue, such as 90-days-plus or 120-days-past due, and represents the riskiest part of their asset quality or loan book.
Shares of Utkarsh Small Finance Bank ended the previous session 1.4% lower at ₹15.11 apiece. The stock has declined 45.9% in the past year. It is down 39.56% from its IPO price of ₹25 apiece and is 48.4% from its 52-week high of ₹29.33 per share.
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