IN 2024, microfinance lenders faced considerable challenges stemming from rising delinquencies. The situation was primarily driven by borrowers acquiring multiple loans from different institutions.
Increasing financial distress among those at the bottom of the pyramid further worsened the situation for the lenders. These factors contributed to increased provisioning requirements and a deceleration in credit growth.
Despite these challenges, some microfinance lenders, such as Ujjivan Small Finance Bank, have successfully navigated the storm with relative ease.
Thus, for the second year in a row, the Bengaluru-headquartered Ujjivan Small Finance Bank has emerged as the winner in the small finance bank category in the BT-KPMG Survey of India's Best Banks and NBFCs. Its MD & CEO Sanjeev Nautiyal attributes the bank's success to a combination of factors, such as robust business performance, improved recoveries, reduced credit costs, and effective cost management.
"Over the last two years, the bank expanded its footprint by opening 178 new branches, taking the total to 752. Also, it has introduced innovative products like micro-mortgages, gold loans, and vehicle finance. These initiatives have laid a solid foundation for future growth," says Nautiyal, who took over in May 2024.
この記事は Business Today India の January 05, 2025 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Business Today India の January 05, 2025 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
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