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This is to inform you that Unity Small Finance Bank Limited (Unity Bank), a new age, digital first bank, promoted by Centrum Financial Services, today announced its financial results for the quarter and year ending 31 st March, 2024. Request you to kindly help us publish the same.

Key Highlights of the results:

• Net Profit rises significantly to Rs 143 crore up 374% Q-o-Q and Rs 439 crore for the year up 1,168% Y-o-Y
• Adequate Growth Capital with CRAR at 36.4% significantly higher than the regulatory requirement
• NNPA at 0.6% & PCR at 98.7% demonstrating healthy Asset Quality and Provisions
• Return on Assets (ROA) at 4% and Return on Equity (ROE) at 33.8%
• Net Interest Margin (NIM) at 10.8%

Key Parameters at a Glance

Adequate Growth Capital - Unity Bank maintains a well-funded Balance Sheet with Shareholder’s Funds at a healthy Rs 1,907 crores and a comfortable Liquidity Coverage Ratio (LCR: 517%). The Bank also has tie ups for inter-bank credit lines from various leading banks and refinance lines from SIDBI and NABARD.

Introduced New Products – A fully digital ‘Do It Yourself’ unsecured personal loans was introduced for salaried & self-employed individuals. For businesses, new products such as Micro LAP, Digital Business Loans, Social Infrastructure Finance for Education & Healthcare were introduced. Additionally 46 Bank Branches and 110 ATMs were operationalized and the Bank went live with its Debit Card.

Way Forward - Unity Bank remains committed to increasing investments in technology and will roll out several more digital offerings during the year. Our Mobile App will be rolled out in a CUG mode initially to existing bank customers and followed up with new to bank clientele as well. The Bank’s credit card business too will undergo a pilot, with the introduction of several card variants.

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