Microfinance lender Utkarsh Small Finance Bank on Thursday (October 5) reported its provisional business updates for the quarter ended September 30, 2023.

The bank's gross loan portfolio registered a substantial year-on-year surge of 26.4%, reaching Rs 14,894 crore, according to a stock exchange filing.

Further, the bank's total deposits marked a notable 19% increase year-on-year, totalling Rs 13,965 crore. In the current account and savings account (CASA) deposits, the bank recorded a 6.9% year-on-year growth, with CASA deposits reaching Rs 2,785 crore.

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However, the CASA ratio, which measures the proportion of low-cost current and savings account deposits in total deposits, showed a slight decline. The CASA ratio stood at 19.9%, down from 22.2% year-on-year and 19.5% quarter-on-quarter.

Shares of Utkarsh Small Finance Bank Ltd ended at Rs 59.48, up by Rs 8.16, or 15.90 percent, on the BSE.

(Edited by : Shoma Bhattacharjee)

First Published:Oct 5, 2023 7:28 PM IST