co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
Recently, the central bank issued conditions for voluntary transition of small-finance banks (SFBs) to a universal bank structure
The small finance bank reported a net profit of Rs 309 crore for the quarter ended March 2023 but the net interest margin fell as it partially passed on rate hikes to customers.
Davis has been associated with Ujjivan since March 2015.
In February this year, the lender had informed raising of up to Rs 600 crore by issuing shares to qualified institutional buyers in order to meet the regulatory requirements for amalgamation with its parent firm Ujjivan Financial Services.
Given the strong earnings trajectory and undervaluation, we see a decent upside in the stock of Ujjivan SFB for long-term investors.
Sriram Srinivasan has a rich experience of over 26 years, having worked extensively in Japan, India, Singapore, Hong Kong, Vietnam and China markets at the global, country, and regional levels, Ujjivan SFB said in a release.
The bank had posted a net loss of Rs 279 crore in the corresponding quarter a year ago.
On October 30, the bank had approved the scheme of amalgamation between Ujjivan Financial Services (transferor company) and Ujjivan SFB (transferee company).
The journey to recovery may take a while for Ujjivan SFB although the overall economic recovery will provide a tailwind
Nitin Chugh had resigned from the position of MD & CEO citing personal reasons.
Ujjivan SFB is a stock capable of spinning positive surprise in the medium term – but meant for the risk takers till clarity emerges post Q2FY22 earnings
Furtado will be leading the charge of handling the day-to-day operations of the Bank from August 26, 2021, and will be serving the Bank as ‘OSD’ until outgoing MD & CEO, Nitin Chugh is in office, the release said.
With the worst seemingly over with COVID-19, the economy limping back to normalcy, and the prospect of a vaccine in sight, it’s time to take a relook at Ujjivan SFB stock and its immediate prospect.
