But at this time, we have done a thorough review of our portfolio and have also received data from the CRIF (Prismatic Report).
This is why we have lowered our guidance," Ittira Davis, managing director and chief executive at Ujjivan Small Finance Bank, told NDTV Profit over the phone on Sunday.
Ujjivan Small Finance Bank has performed better than the rest of the industry on a like-to-like basis.
In comparison, Ujjivan Small Finance Bank's portfolio at risk in this category of loans was 0.84% as of March 31, 2024.
In Punjab, CRIF estimates that the portfolio at risk for 18-month-old loans was at 9.11%, compared with Ujjivan Small Finance Bank's 1.36%.
"It (previous guidance) was (issued) just five weeks ago. But at this time, we have done a thorough review of our portfolio and have also received data from the CRIF (Prismatic Report). We're seeing stress in some pockets for the industry. This is why we have lowered our guidance," Ittira Davis, managing director and chief executive at Ujjivan Small Finance Bank, told NDTV Profit over the phone on Sunday.
Stress is visible in certain regions like Punjab, Haryana, Souther Tamil Nadu, and Kerala, according to Davis. The microfinance industry is facing delays in repayments from these regions. Ujjivan Small Finance Bank has performed better than the rest of the industry on a like-to-like basis.
For the microfinance industry, the CRIF Prismatic report notes that portfolios at risk in loans, which have been on the books for over 18 months, stood at 1.64% across India. In comparison, Ujjivan Small Finance Bank's portfolio at risk in this category of loans was 0.84% as of March 31, 2024.
In Punjab, CRIF estimates that the portfolio at risk for 18-month-old loans was at 9.11%, compared with Ujjivan Small Finance Bank's 1.36%. For loans in Haryana, the ratios stood at 3.49% and 1.11%, respectively.
