Ujjivan Small Finance Bank Limited has informed the Exchange about Credit Rating
UJJIVANSFB · price
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CARE Ratings has reaffirmed its rating of 'CARE AA-; Stable' on Ujjivan Small Finance Bank's long-term bank facilities (₹500 crore), subordinated non-convertible debentures (₹500 crore), and fixed deposit programme (₹10,000 crore). The reaffirmation reflects the bank's comfortable capital position with a capital adequacy ratio of 21.62% and improving loan book diversification, with secured loans rising to 48% from 30% two years ago. Profitability has weakened — return on total assets fell from 3.50% in FY24 to 1.10% in the first nine months of FY26 — due to stress in the micro-banking segment, higher credit costs, and margin compression. Asset quality remains under watch with gross NPAs at 2.38%, though the bank has also applied for a universal banking licence from the RBI.
This is a neutral-to-slightly-positive event for shareholders and depositors — the rating was maintained, not downgraded, signalling that CARE sees the bank as financially stable despite weaker recent profits. The stable outlook suggests no immediate rating pressure, though investors should monitor micro-banking stress and the bank's ability to improve its return on assets above 1% sustainably.