Utkarsh SFB's shares increases by 5% while the Q3 gross loan portfolio grows by 31%

Utkarsh SFB's shares increases by 5% while the Q3 gross loan portfolio grows by 31%

Utkarsh SFB's shares increases by 5% while the Q3 gross loan portfolio grows by 31%

Over the last six months, Utkarsh Small Finance Bank has provided a return of 20.62 percent. The benchmark Nifty Bank index has returned 6.74 percent during the same time frame.

In early trading on January 5, shares of Utkarsh Small Finance Bank (SFB) increased by about 5%, after a 30.8 % year-over-year increase in the Q3 loan portfolio to Rs 16,408 crore. The stock was trading on the NSE at Rs 60.30 at 9:15 a.m.

The bank's deposits saw a significant increase of 17.6% over the previous year and 8.2% over the previous quarter, totaling Rs 15,111 crore, even though its gross loan portfolio was only Rs 16,408 crore.

Deposits into the bank's Current Account Savings Accounts (CASA) increased to Rs 3,016 crore, up 11.6 percent annually and 8.3 percent quarterly. While the CASA ratio increased sequentially from 19.9% to 20%, it showed a modest year-over-year fall from 21% to 20%.

Stock Call: Verify target prices and brokerage suggestions

In a research report dated January 1, brokerage firm ICICI Securities expressed its bullishness on Utkarsh Small Finance Bank and suggested a "buy" rating on the stock, with a target price of Rs 70.

In summary, the most recent financial figures released by Utkarsh Small Finance Bank demonstrate a robust growth in both the bank's loan portfolio and total deposits, pointing to a good trend and a robust inflow of capital. The rise in CASA deposits indicates that more consumers are taking advantage of affordable banking services.

stock performance

The stock of Utkarsh SFB has returned 20.62 percent during the last six months. The benchmark Nifty Bank index has returned 6.74 percent during the same time frame.