Slides
Page 2
2 Key Highlights Q1’FY26 – Assets & Liabilities Particulars June 30, 2025 June 30, 2024 Change YoY March 31, 2025 Change QoQ (Amount in ₹ Crore) (Limited Review) % (Audited) % Gross Loan Portfolio* 19,224 18,798 2.3% 19,666 (2.2)% JLG (incl. BC JLG) Loan Portfolio* 8,578 11,160 (23.1%) 9,207 (6.8)% Non-JLG Loan Portfolio 10,646 7,638 39.4% 10,459 1.8% Total Deposits 21,489 18,163 18.3% 21,566 (0.4)% CASA Deposits 4,229 3,453 22.5% 4,699 (10.0)% Retail Term Deposits 11,675 8,729 33.7% 10,635 9.8% Bulk Term Deposits 5,585 5,980 (6.6)% 6,232 (10.4)% CASA Ratio (%) 19.7% 19.0% 21.8% CASA + Retail Term Deposits Ratio (%) 74.0% 67.1% 71.1% *Incl. IBPC issued by the Bank
Page 3
1,099 vs. [916] Banking Outlets ₹19,224 cr. vs. [₹18,798 cr.] Gross Loan Portfolio 27 States & UTs 2.3% Gross Loan Portfolio Growth YoY 19,871 vs. [17,299] Employees ₹21,489 cr. vs. [₹18,163 cr.] Deposits Loss ₹239 cr. vs. Profit [₹137 cr.] Profit After Tax ₹2,739 cr. vs. [₹3,119 cr.] Capital + Reserves 18.3% / 33.7% Deposits / RTD Growth YoY 5.0% vs. [0.3%] Net NPA 74% vs. [67%] Share of CASA + Retail Term Deposits ₹92 cr. vs. [₹311 cr.] Pre-Provisioning Operating Profit 19.6% vs. [23.2%] CRAR 83.0% vs. [54.1%] Cost to Income 59.2% vs. [55.5%] Provision Coverage Ratio (excl. floating provision) 11.4% vs. [2.8%] Gross NPAs 45% vs. [35%] Share of Secured Loans in Gross Loan Portfolio -3.4% / -33.8% vs. [2.3% / 18.1%] RoAA / RoAE 3 83.4%* vs. [92.7%] CD Ratio Key Highlights Q1’FY26 Figures in [ ] represent Q1’FY25 *CD Ratio at 76% excl. advances against which refinance is raised
Page 4
Journey and Franchise Portfolio Build Up Deposits Build Up Financial Performance Technology, ESG & CSR 4
Page 5
Journey and Franchise Significant presence in rural & semi urban locations and under penetrated States of the Country Committed journey of ~15 years from Microfinance to Small Finance Bank to Listed Company Differentiated branch network to ensure relevant product offerings for customers & ensuring cost efficiency of operations 5
Page 6
Utkarsh Journey FY10 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 6 FY24 UCL received RBI In- Principle Approval to establish an SFB on October 7, 2015 Utkarsh CoreInvest Limited (UCL) commenced operations as NBFC in Sep-09 Bank commenced SFB operations from January 23, 2017 Bank received 'Scheduled Commercial Bank' status in Oct-Nov-17 Conversion of microfinance branches to Banking Outlet Bank’s Capital + Reserves crossed ₹1,000 crore Launched digital on- boarding Raised equity capital of ₹240 crore in Mar-21 Bank’s loan portfolio and deposits, both, crossed milestone of ₹10,000 crore Bank’s Capital + Reserves crossed ₹2,000 crore In Jul-23 Bank launched IPO to raise equity capital of ₹500 crore; IPO oversubscribed >100 X; Higher ever annual PAT of ₹498 crore in FY24 FY25 >1,000 Banking Outlets
Page 7
ATM-cum - debit cards1 Mobile Banking1 Internet banking1 Savings Account Current Account Term and Recurring Deposit Accounts 15.6% Yield on advances Q1, FY26 Focus on Financial inclusion, offer a range of financial products and services that address the specific requirements of customer segments Other Products & Services Liability Products Asset products Portfolio split % (Jun’25) 5.07 million Total Customers Jun-25 Insurance Products Mutual Funds 1 1 Other Distribution channels Locker Facilities Integrated Bill Payment system Distribution & facilitation of accounts under certain Govt. Schemes UPI Payment Solutions Joint Liability Group Loans 47% CV/CE Loans MSME Loans (Retail Assets) Other Retail Loans 42% Wholesale Lending (FI & BBG) 11% Housing Loans Micro-Banking Business Loans ODFD Business Overview Other Retail Loans & BC Channel 8.1% Cost of Funds Q1, FY26 7 42% 5%
Page 8
Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 916 967 1,028 1,092 1,099 8 >50 Outlets <50 Outlets No Outlets 871 Banking Outlets 26 States & UT 313 ATMs and 562 micro ATMs Extensive physical network of Banking Outlets (Jun’25) Banking Outlets Map not to scale 239 URCs During Q1’FY26, opened 7 MB branches *Includes 9 Combo Branches 26 States & UT 1,099 Banking Outlets 362 ATMs and 777 micro ATMs 294 URCs 27 States & UT Potential for Retail Assets within existing Branches (Jun’25) STATES Total Banking Outlets MB Outlets GB Outlets* MSME Locations HL Locations Wheels Locations Bihar 275 255 20 9 3 4 Uttar Pradesh 227 176 51 18 17 25 Odisha 102 95 7 2 2 - Jharkhand 100 89 11 3 1 3 Maharashtra 85 42 43 19 12 - NCT Of Delhi 35 4 31 3 1 1 Other States 275 107 168 32 27 14 TOTAL 1,099 768 331 86 63 47 227 275 27 35 100 53 85 4 17 24 20 102 29 10 2 5 Delhi: 35 Puducherry: 1 11 10 15 4 1 1 Diversified distribution network
Page 9
Continue diversifying asset portfolio Grow retail deposits mix across geographies and customer segments to build stable funding source Increase share of fee income and capitalize on cross-selling opportunities Increasing use of technology and digital offerings for last mile delivery to customers ❑ Consistently increase share of secured loans in portfolio mix ❑ Leverage wide base of existing customers in the unserved and underserved segments ▪ Extend product offerings from JLG loans to individual loans, affordable housing and other new products ❑ Focus on offering working capital and term loans to MSMEs, small and medium sized corporates, institutional customers ❑ Cross-sell to existing clients on-boarded through existing network in urban and metro locations ❑ Enter newer geographies including top 100 cities in terms of overall deposits, to grow the bank deposit base ❑ Strengthen liability franchise by continuing focus on CASA and retail deposit base ❑ Enhance digital offering at various touch points of customer life cycle ❑ Generate fee income from own products and cross-selling third-party products ❑ Engaged with various partners in offering third-party products and intend to continue to develop newer partnerships ❑ Provide various payment solutions and other relevant services to increase the fee income ❑ Continue to invest in technology as a means of improving customer experience ❑ Increase focus on applying the data gathered over the years by creating customized analytical decision models to enhance underwriting and collection procedures Strategies 9
Page 10
Portfolio Build-up Loan portfolio grew 2.3% YoY Rural & semi urban franchise, deep rooted understanding of our core geographies, proven track record - key strength of our micro-banking lending Increasing share of secured lending with build-up of MSME, Housing & CV / CE loan book 10 • FY25 witnessed market disruptions in JLG segment, resulting in a slowdown • Continued focus on high yield products & improving productivity • Increased emphasis on Micro LAP, MBBL
Page 11
JLG 88% MBBL 0% Retail Loans (MSME) 4% Wholesale Lending 5% Housing Loans 1% Others* 2% Loan Portfolio Build-up 11 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'25 Jun'25 5,844 6,854 7,870 8,880 10,634 8,761 8,163 13 46 132 336 678 918 916 495 1,013 1,702 3,195 5,104 7,747 7,957 310 503 926 1,547 1,882 2,240 2,188 JLG* MBBL Other Retail Loans** Wholesale Lending JLG 42% MBBL 5% Retail Loans (MSME) 21% Wholesale Lending 11% CE & CV 6% Housing Loans 5% Others* 10% Loan Book (Mar-20) Loan Book (Jun-25) *Excluding BC JLG portfolio; including BC JLG, JLG loan book is ₹8,578 crore (45% of total portfolio) as of Jun-25; **Includes MSME, Housing, CE & CV, BC channel, Personal Loans, OD Against FD and others Product CAGR% (FY20-Q1’FY26) Joint Liability Group Loans (JLG)* 7% Micro-Banking Business Loans (MBBL) 126% Other Retail Loans** 70% *Others includes OD Against FD, Personal Loans, Gold loans & BC channel Secured Loans share increased to 45% 18,299 13,957 10,631 8,416 6,661 All Amounts in ₹ Crores 19,666 19,224
Page 12
12 Micro-Banking Lending
Page 13
Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 10,672 10,125 9,255 8,761 8,163 715 764 812 918 916 Joint Liability Group Loans Micro-Banking Business Loans* 90% Micro-Banking Lending 13 All Amounts in ₹ Crores Portfolio Outstanding o Rural and semi-urban presence – 88% MB branches in rural and semi urban locations o Loan book declined in Q1’FY26 as Bank slowed down on disbursements, focus shifted towards collections o Opened saving accounts for >65% of micro-banking customers, build customer connect stronger METROPOLITAN 2% RURAL 41% SEMI URBAN 47% URBAN 10% Demographic Break up of MB Outlets 88% Branches in Rural & Semi- urban areas 11,387 9,079 9,679 10,066 10,889 10% *includes PM SVANidhi & PM Vishwakarma loan portfolio of ₹7 crore Q1’FY26 JLG MBBL Customer Base >26 Lakh >1 lakh Portfolio ₹8,163 Crore ₹909 Crore Average Ticket Size (Disbursements) ~₹58k ~₹1.1 Lakh Average Ticket Size (Portfolio) ~₹31k ~₹74k MBBL penetration level >4%, significant potential to grow
Page 14
Q1,FY25 Q2,FY25 Q3,FY25 Q4,FY25 Q1,FY26 2,260 1,540 1,296 1,340 1,088 Joint Liability Group (JLG) Lending 14 All Amounts in ₹ Crores o Slowed down on JLG disbursements in Q1’FY26 considering weakness in collection efficiency and asset quality / borrower level over-leveraging concerns o Large franchise with customer base of >26 lakhs o Digital collections through customized UPI QR code / BBPS Disbursements Bihar 44% Uttar Pradesh 27% Jharkhand 8% Odisha 8% Maharashtra 4% Madhya Pradesh 3% Other States 6% Geographical Split of JLG Portfolio Presence across 13 States / UTs 10,125 9,255 8,761 8,163 10,672 Portfolio
Page 15
Micro-Banking Business Loans 15 All Amounts in ₹ Crores o Micro-Banking Business Loan (MBBL) scaling up on track with YoY loan book growth 29% o Significant potential to grow considering large JLG client base of the Bank o Collection largely digital - through direct account debit Q1,FY25 Q2,FY25 Q3,FY25 Q4,FY25 Q1,FY26 138 163 175 260 153 BIHAR 50% UTTAR PRADESH 34% JHARKHAND 5% ODISHA 4% MADHYA PRADESH 4% MAHARASHTRA 3% UTTARAKHAND 1% HIMACHAL PRADESH 0% Geographical Split of Portfolio Disbursements 10% YoY Growth 754 801 910 909 706 Portfolio
Page 16
16 Other Retail Lending MSME (Retail Assets) Housing Loans CE & CV Loans
Page 17
2,745 3,128 3,453 3,875 4,001 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 MSME (Retail Assets) Lending 17 294 543 493 604 327 12.1% 12.4% 13.1% 13.2% 13.7% 0.0% 5.0% 10.0% Q1,FY25 Q2,FY25 Q3,FY25 Q4,FY25 Q1,FY26 - 100 200 300 400 500 600 700 Disbursements Average Disbursement Yield All Amounts in ₹ Crores o Significant presence in our core geography o Offering MSME product (small business segment) through 86 branches, significant headroom to expand within existing branches o Largely secured lending (>95%) o Average ticket size of loan book ₹25-35 lakh o Consistently optimizing our disbursement yields – improved by >150 bps over same quarter last year Portfolio Outstanding Disbursements (11% YoY Growth) Secured Business Loans (LAP) Unsecured Business Loan Micro LAP / Overdraft
Page 18
716 785 855 918 929 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Housing Loans 18 68 105 102 110 63 10.7% 10.9% 11.2% 11.3% 11.1% 0.0% 5.0% 10.0% Q1,FY25 Q2,FY25 Q3,FY25 Q4,FY25 Q1,FY26 - 10 20 30 40 50 60 70 80 90 100 110 Disbursements Average Disbursement Yield All Amounts in ₹ Crores o Significant presence in our core geography o Currently offering HL product from 63 locations, significant headroom to expand within existing branches o Housing loans up to ₹35 lakh account for ~61% of housing loan portfolio o >3,900 customers – Average ticket size of loan book ₹20-25 lakh o Consistently optimizing our disbursement yields – improved by >40 bps over same quarter last year Portfolio Outstanding Retail Housing Loans Affordable Housing
Page 19
1,010 1,075 1,134 1,188 1,179 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 CE & CV Loans 19 125 128 127 137 76 12.3% 12.2% 12.5% 12.4% 12.8% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% Q1,FY25 Q2,FY25 Q3,FY25 Q4,FY25 Q1,FY26 - 20 40 60 80 100 120 140 160 Disbursements Average Disbursement Yield All Amounts in ₹ Crores Portfolio Outstanding o Lending primarily to small fleet operator segment o Currently offering CE & CV product through 47 branches, significant headroom to expand within existing branches o Currently operating primarily in our core geographies o >4,000 customers - Average ticket size of loan book ₹25- 35 lakh o Consistently optimizing our disbursement yields – improved by >45 bps over same quarter last year CV (New) •81% of total portfolio CE (New) •11% of total portfolio CV & CE (Used) •8% of total portfolio 17% YoY Growth
Page 20
UTTAR PRADESH 22% MAHARASHTRA 20% NCT OF DELHI 13% BIHAR 9% HARYANA 8% TELANGANA 7% JHARKHAND 3% WEST BENGAL 3% PUNJAB 3% Other States 13% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 693 1,071 1,062 1,249 736 Geographical Split of Other Retail Lending 20 All Amounts in ₹ Crores Disbursements Presence across 26 States / UTs 6,162 6,849 7,747 7,957 5,539 Portfolio - Other Retail Lending excl. Micro-Banking & Wholesale Lending and Incl. MSME, Housing, CE & CV, BC channel, Personal Loans, OD Against FD and others Geographical Split of Other Retail Lending Portfolio 6% YoY Growth
Page 21
Wholesale Lending 21 All Amounts in ₹ Crores o Small to medium size corporates (SME segment) o >230 customers; Average ticket size – ~₹4 crore o Primarily operating account through OD / DLOD product o Entire book secured against collateral of immovable properties with cover of >100% Rating Wise WSL FI Portfolio Break up Below BBB Category 3% BBB Category 23%A Category 64% AA Category 9% AAA Category 1% BBG Lending WSL FI Lending o >70% of book credit rated “A” category or higher by external credit rating agencies o ~70 customers; Average ticket size of outstanding loan ₹15-20 crore Portfolio Break up (Mar-20) WSL FI Lending 60% Business Banking Group 40% WSL FI Lending 100% Business Banking Group 0% Portfolio Break up (Jun-25) Disbursement Yield – 10.9% (Q1 FY26) Started Business Banking in FY21 WSL Jun-25 Jun-24 Mar-25 Portfolio O/s ₹2,188 ₹1,872 ₹2,240 Share in Gross Loan Portfolio 11% 10% 11%
Page 22
Deposits grew by 18% YoY; Retail Term Deposits grew 34% YoY Expanded General Banking Franchise significantly Focus on building retail franchise Targeting top-100 deposits centres of the country Deposits Build-up 22
Page 23
18,163 19,496 20,172 21,566 21,489 93% 93% 92% 87% 83% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 - 5,000 10,000 15,000 20,000 25,000 Total Deposits CD Ratio Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 2% 2% 2% 3% 2%17% 17% 18% 19% 18% 48% 49% 50% 49% 54% 33% 32% 30% 29% 26% Institutional Term Deposits Retail Term Deposits Savings Deposits Current Deposits Deposits Trend & Composition 23 Deposits Trend Demographic Profile of Deposits* (Jun-25) METROPOLITAN 52%RURAL 3% SEMI URBAN 4% URBAN 41% All Amounts in ₹ Crores Deposits (18% YoY Growth) *Excluding Digitally sourced Deposits **CD Ratio excl. advances against which refinance is raised Deposits Composition 19% 67% 20% 68% 20% 74% 22% 71% 20% 70% CASA CASA + RTD RTD grew by 34% YoY to ₹11,675 crore vs. ₹8,729 crore (₹10,635 crore Mar-25) Branch Vintage GB Branches <1 year 51 1-2 year 23 2-3 year 61 >3 year 196 Total 331 ~41% of the branches are <3-year vintage CD ratio (excl. refinance) at 76%**
Page 24
Deposits Trend & Composition (Contd.) Long Term Credit Rating A+ (Negative) CARE A+ (Negative) ICRA Rating for certificate of deposit programme A1+ ICRA Deposits 91% Refinance 7% Other Borrowings 2% Funding Mix (Mar-20) Cost % Q1’FY26 Term Deposits 8.7% CASA 5.2% Deposits 66% Refinance 29% Other Borrowings 5% Funding Mix (Jun-25) Increasing reliance on Deposits All Amounts in ₹ Crores 24 Geographically well diversified Deposits* mix West Bengal Uttarakhand Haryana NCT of Delhi Maharashtra Uttar Pradesh 4.9% 6.0% 8.2% 12.0% 12.2% 17.2% *Excluding Digitally sourced Deposits <3 Years 93% 3 Years and above 7% <3 Years 66% 3 Years and above 34% Retail Term Deposits Tenure wise Break up Mar-23 Jun-25
Page 25
Asset Quality Movement 25 All Amounts in ₹ Crores Provisions Break-up Particulars Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 NPA Provision 264 369 529 949 1,299 Floating Provision 169 190 190 - - Provision for standard restructured 1 1 1 1 1 Standard Provision 80 85 85 65 72 Total Provisions 514 646 805 1,015 1,372 61.1%91.0% 51.2% 59.2%77.7%PCR% Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 2.6% 4.4% 5.6% 4.0% 4.1% SMA 1 & 2 % NPA Movement* Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Opening GNPA 418 476 719 1,177 1,854 Additions during the period 180 356 738 771 452 Reductions during the period Up-gradations & Recoveries 18 33 27 59 55 Write-offs & ARC Sale 104 79 253 34 54 Closing GNPA 476 719 1,177 1,854 2,196 Jun-24 Mar-25 Jun-25 Gross NPA % 2.8% 9.4% 11.4% Net NPA % 0.3% 4.8% 5.0% Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 476 719 1,177 1,854 2,196 43 160 458 905 897 Gross NPAs Net NPAs *NPA Movement based on quarter-end NPAs
Page 26
Micro-Banking – Asset Quality Q1'FY25 Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26 96% 92% 88% 86% 82% Collection Efficiency (excl. Pre-Payments) 26 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 SMA 0 % 1.8% 4.3% 3.2% 1.1% 1.9% SMA 1 % 1.2% 2.6% 3.1% 1.6% 1.5% SMA 2 % 1.2% 2.4% 3.8% 2.2% 1.7% Total SMA % 4.1% 9.3% 10.1% 5.0% 5.1% NPA % 3.1% 5.3% 9.7% 16.7% 20.8% o Collection efficiency & asset quality weakened on account higher leverage at borrower level and weakened discipline for centre meetings continuing from covid times o Strengthening collection efforts and dedicated teams for collections / supervisors at field level to improve collection efficiency o X-bucket collection efficiency (excl. pre-payments) was 98.7% for Q1’FY26
Page 27
Financial Performance Secured assets growth and deposits build-up in line with expectations Results impacted due to market disruptions in MFI segment 27
Page 28
Profit & Loss: For the quarter ended June 30th, 2025 28 All Amounts in ₹ Crores Particulars Q1’FY26 Q1’FY25 Y-o-Y Q4’FY25 Q-o-Q FY25 INCOME Limited Review Audited Audited Total Interest Earned 881 966 (9)% 880 0% 3,765 Less : Interest Expense 479 393 22% 468 2% 1,742 Net Interest Income 402 573 (30)% 411 (2)% 2,023 Add : Other Income (Processing Fee on loans+ Transaction and other fee income + PSLC income + Write off Collections) 138 105 32% 287 (52)% 600 Operating Income 540 678 (20)% 699 (23)% 2,623 EXPENDITURE Operating Expenses 448 367 22% 465 (4)% 1,616 Personnel Cost 228 205 11% 204 12% 846 Other Operating Expenses 220 161 36% 260 (16)% 770 Operating Profit 92 311 (71)% 234 (61)% 1,007 Total provisions 411 125 228% 223 84% 979 PBT (319) 186 - 11 - 28 Tax (79) 49 - 8 - 4 PAT (239) 137 - 3 - 24
Page 29
Balance Sheet: As on June 30th, 2025 29 All Amounts in ₹ Crores Particulars June 30th, 2025 June 30th, 2024 Y-o-Y March 31st, 2025 Q-o-Q CAPITAL & LIABILITIES Limited Review Audited Capital and Reserves 2,739 3,119 (12)% 2,975 (8)% Deposits 21,489 18,163 18% 21,566 0% Borrowings 2,210 2,113 5% 2,355 (6)% Other Liabilities and Provisions 1,356 1,497 (9)% 1,232 10% Total 27,794 24,891 12% 28,127 (1)% ASSETS Cash and balances with RBI 2,194 1,424 54% 2,638 (17)% Balances with banks and money at call and short notice 1,381 2,067 (33)% 798 73% Investments 5,144 3,761 37% 4,958 4% Advances (Net of provisions) 17,925 16,834 6% 18,716 (4)% Fixed Assets 418 311 35% 387 8% Other Assets 732 496 48% 630 16% Total 27,794 24,891 12% 28,127 (1)%
Page 30
30 Profitability Metrics Note - Ratios basis monthly average balances FY24 FY25 997 1,007 498 24 Operating Profit (PPoP) PAT Operating Profit & PAT – Quarterly Trend (₹ in crores) Annual Operating Profit & PAT (₹ in crores) Q1' FY25 Q2' FY25 Q3' FY25 Q4' FY25 Q1' FY26 311 276 185 234 92 137 51 (168) 3 (239) Operating Profit (PPoP) PAT 19.4% 18.8% 17.2% 16.1% 15.6% 8.0% 8.2% 8.3% 8.3% 8.1%9.4% 8.8% 7.5% 6.4% 5.9% Q1'FY25 Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26 Yield on Advances Cost of Funds Net Interest Margin 2.3% 0.8% (2.5)% 0.04% (3.4)% 18.1% 6.6% (21.8)% 0.4% (33.8)% Q1'FY25 Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26 Return on Average Assets Return on Average Capital + Reserves
Page 31
Credit Cost 2.7% 4.3% 8.8% 4.7% 8.5% Q1'FY25 Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26 31 Profitability Metrics (Contd.) 54.1% 58.2% 68.4% 66.5% 83.0% 10.8% 10.4% 11.3% 32.6% 15.6% Q1'FY25 Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26 Cost to Income Ratio Non-Interest income/Interest income 8.0% 8.0% 8.3% 9.8% 9.3% 6.1% 6.0% 6.0% 6.9% 6.4% Q1'FY25 Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26 OPEX on Advances OPEX on Total Assets Note - Ratios basis monthly average balances Operating Profit as % of Avg. Total Assets 5.2% 4.3% 2.8% 3.5% 1.3% Q1'FY25 Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26
Page 32
Cross-Cycle Return on Equity (RoE) Average: 6.3% 32 FY20 FY21 FY22 FY23 FY24 FY25 Q1'FY26 20.5% 10.1% 4.2% 22.9% 19.5% 0.8% (33.8)%
Page 33
Break-up of other income 33 Q1'FY25 Q4'FY25 Q1'FY26 26% 68% 17% 38% 6% 34% 13% 11% 10% 24% 15% 40% Loan Processing Fee PSLC Income Recovery from written off accounts General Banking & Other Income ₹ 105 crore ₹ 287 crore ₹138 crore
Page 34
CRAR & Tier 1 34 Particulars Jun-25 Jun-24 Mar-25 Risk Weighted Assets 14,757 13,358 15,526 Total Capital 2,898 3,096 3,249 Tier-I Capital 2,466 2,724 2,776 Tier-II Capital 431 373 474 CRAR 19.64% 23.18% 20.93% Tier-I CRAR 16.71% 20.39% 17.88% Tier-II CRAR 2.92% 2.79% 3.05% All Amounts in ₹ Crores
Page 35
Shareholding Pattern 35 Bank Shareholders as on June 30th, 2025 Top 10 Shareholders as on June 30th, 2025 Utkarsh CoreInvest Limited Olympus ACF Pte. Ltd. Aavishkaar Bharat Fund responsAbility Participations Mauritius Massachusetts Institute of Technology Basic Retirement Plan Trust Triodos Custody B.V. Acting in its Capacity as A C Zodiac Wealth Advisors LLP ICICI Prudential Life Insurance Company Limited FLC Investco, LLC Four Dimensions Securities (India) Ltd. Book Value Per Share Mar'22 Mar'23 Mar'24 Mar'25 Jun'25 17.6 22.3 27.0 27.0 24.9 Promoter, 68.9% Mutual Funds, 0.6% Insurance Companies, 1.3% AIFs, 1.0% FPI, 1.9 Individuals & Others, 18.6% Foreign Companies, NRIs, 5.3% Bodies Corporates, 2.6%
Page 36
Pramod Kumar Dubey Executive Director Gauri Rushabh Shah Additional Director (Independent) Govind Singh Managing Director & Chief Executive Officer Kalpana Prakash Pandey Independent Director • Previously worked with ICICI Bank as the Head of Operations, Federal Bank • Experienced in banking, sales management, product management, operations, compliance and P/L ownership, etc. • Served as an observer on the Board of Midland Microfin Limited • CAIIB from Indian Institute of Bankers • Qualified CA • Previously worked with Deloitte, C.C. Chokshi Advisors Pvt. Ltd. • Served on the Board of Fedfina Financial Services Ltd. (NBFC & subsidiary of Federal Bank) • Certified associate of the Indian Institute of Bankers • Previously associated with Utkarsh CoreInvest as MD & CEO, ICICI Bank as assistant general manager, Surya Fincap Limited, UTI Bank Limited, Allahabad Bank, State Bank of Patiala and Bank Internasional Indonesia • Previously worked as the MD & CEO of CRIF High Mark Credit Information Company • Was also associated with State Bank of India, IDBI Principal AMC and HDFC Bank Limited Board Members of the Bank Diversified & Experienced Board 36 Parveen Kumar Gupta Independent Director (Part Time Non-Executive Chairman till June 30,2025) • Certified Associate of the Indian Institute of Bankers • Previous associations with SBI as Managing Director & BoB as senior advisor • Other key associations - Non-Executive Chairman - Future Generali Insurance, Public Interest Director & Chairman – NSDL Ajay Kumar Kapur Independent Director • Previous associations include SIDBI as DMD, SIDBI Venture Capital Limited as CEO, MUDRA, Receivables Exchange of India Limited, CGTMSE, amongst others Muralidharan Rajamani Non-Executive Director • BFSI industry veteran (SBI, ICICI Bank, Edelweiss Tokio, L&T Financial Services) in Leadership positions. • Independent / Advisory Board Member/Mentor • Qualifications: BSc., MA, CAIIB and Executive Education Stanford University Dr. Kshatrapati Shivaji Part Time Chairman & Independent Director (w.e.f. July 01, 2025) • IAS (Retd.); experienced in Banking, Economics, Finance, and Law • Previously associated with Maharashtra Real Estate Appellate Tribunal as member in rank & status of Chief Secretary of Govt. of MH, Ministry of Finance GOI, Principal Secretary of Finance Dept of Govt. of MH, CEO of MIDC, MPEDA New York Office • Served as CMD of SIDBI, MD of Kerala Fin. Corp, CMD of Maharashtra Fin. Corp., MD of Kerala State Co. Bank, etc. Mr. Nagesh Dinkar Pinge served as Independent Director of the Bank until July 19th, 2025 and ceased to be the director w.e.f. July 19th, 2025
Page 37
37 Leadership Complementing Bank’s Strengths Senior Management Team Pramod Kumar Dubey – Executive Director • Previously worked with ICICI Bank as the Head of Operations • Also worked with Federal Bank • Experienced in branch banking, P&L mgmt., etc. • Served as an observer on the Board of Midland Microfin Ltd. • CAIIB from Indian Institute of Bankers Govind Singh - Managing Director & Chief Executive Officer • Over 25 years of experience in the banking and financial services sector and in particular the microfinance industry • Previously associated with Utkarsh CoreInvest (Bank’s Promoter) as MD & CEO and ICICI Bank Limited, UTI Bank Limited and State Bank of Patiala Sarjukumar Pravin Simaria Chief Financial Officer • Experienced in the field of financial management • Worked at Edelweiss, Fino Payments Bank, AIG and HDFC AMC Amit Acharya Chief Risk Officer • Experienced in Credit Underwriting & Risk Management • Worked with ICICI Bank, Kotak Bank, Axis Bank Muthiah Ganapathy Company Secretary & Compliance Officer • Responsible for managing the secretarial affairs • Worked at Aditya Birla Housing Finance Vivek Kashyap Head JLG – Sales - Micro Banking • Experience of over two decades in Micro-Banking • Previously worked with IIFL Samasta, SKS Finance Ltd., Utkarsh SFB Rahul Dey Head - Operations • Experience in banking and MFI sector • Worked with Ujjivan Financial Service and Spandana Spoorthy G.H. Vijay Raghava Head - Treasury • Experienced in the field of Banking & Treasury • Worked at Suryoday SFB, ICICI Bank, Bank of India Suchita Chatterjee Interim Head - Internal Audit • Experience in Audit function with banks and micro financial institutions • Worked with Ujjivan, IndusInd Bank and Bharat Financials Abhijeet Bhattacharjee Chief Information Officer • Experienced in the field of information technology • Worked with RBL as its head of digital channels, & UTI Bank, ABN AMRO, RBS Hitain Sharma Chief Human Resource Officer • Experienced in the field of human resources and industry relations • Worked at Aditya Birla Sun Life Insurance and Kotak Mahindra Bank as vice president - HR Sourabh Ghosh Head – Consumer Banking • Experienced in Banking, Sales, Strategy, Financial Services, P&L & product mgmt. • Previously worked with AU SFB, Kotak Mahindra Bank, ICICI Bank, IDBI Bank
Page 38
Tech, ESG & CSR Technology Setup to support Physical Infrastructure and Digital Requirement Integrating ESG Sensitivities into our operations & decision- making Contributing to the well-being of the society 38
Page 39
360-DegreeTransformation → Bank Future Growth Ready Driving Sustainable Business Growth Shareh olders Shareh olders Automation / Efficiency Process re-engineering (Retail and Micro Banking) & Collection workflow Geo Tagging facility for workforce tracking 5x improvement via RPA Digitization State of Art Loan Origination Continuous Digitization for Servicing & Collection 100% Automation achieved for all Onboarding Systems Innovation ML based Smart Scrubbing & Voice- Based Workflows Low Code / No Code for agile roll out Generative AI use for internal processes Experience Whatsapp, Internet, Mobile Banking & Website Cashless and paperless financial inclusion Deep Network in Rural and Semi-urban Open Banking Ready Stack for Fintech Enablement Secure Credit Card, Digital FD and Fintech Lending Apps Secure & Scalable API Gateway Driving Sustainable Business Growth in the Modern World
Page 40
Strengthening Technology Ecosystem to be Future Ready Driving Sustainable Business Growth Shareh olders Shareh olders Transformation New Core Banking (Finacle) Implementation AML/ALM/Treasury Implementation Revamp of Old Technology Stack Data Management Compliance & Regulatory Reporting Fraud & Risk Management and NPA Management Early Warning System Scalability Cloud Adoption Datacenter Modernization Microservices Enablement Security Advance Threat Detection Secure Web Access Security Operations Control
Page 41
Environment, Social & Governance 41 Environment • Exclusion List • Training and awareness • Energy Saving • Plantation • Solar light • Preserve water quality and availability • ESG Risk Assessment Social • Service to Bottom of pyramid • Inclusive finance • Education Support • Financial Literacy • Priority Sector lending • Women empowerment • Income Generation Loan Governance •Diversified Board •Board independence •Strong Corporate Governance •Risk Management Committee •Audit Committee •Customer Service Committee •Nomination and Remuneration Committee •ESG Steering Committee Practice is aligned with the national E&S laws and regulations and relevant E&S Good International Industry Practices (GIIP). Committed to give due consideration to environmental & social sensitivities in portfolio, integrating these into its business operations and decision-making process
Page 42
Awards & Accolades 42 Credit Modeling & Risk Team of the Year Award at the India Credit Risk Summit & Awards 2024 Best Technology Talent at 19th Annual Banking Technology Conference, Expo & Citations Cyber Security Team of the Year at the 4th IBA CISO Summit & Citations 2025
Page 43
Most Preferred Workplace 2023-24 (BFSI Edition) by Marksmen Daily Most Trusted BFSI Brands by Team Marksmen Daily – 2023-24 Awards & Accolades (Contd.) 43 Best Customer Experience Strategy by India Customer Excellence (CX) Summit & Awards 2023
Page 44
44 Utkarsh Welfare Foundation: CSR Initiatives SKILL & ENTERPRISE DEVELOPMENT PROGRAM Lives Impacted 14,70,000+ Lives Impacted 24,80,000+ Lives Impacted 44,500+ Lives Impacted 30,000+ Initiatives Blood Donation Camps, Support to Old Age Home & Orphanage, Natural Calamities Relief Initiatives, etc. OTHER PHILANTHROPIC ACTIVITIES VILLAGE DEVELOPMENT PROGRAM & EDUCATION HEALTH INITIATIVES FINANCIAL AWARENESS
Page 45
Utkarsh Welfare Foundation: CSR Initiatives (Contd.) 45 Learning Enhancement Program Women Entrepreneurship Financial Awareness E-Clinics Smart Classes Blood Donation Camps Village Development Program Health Awareness Weavers Support Program Agri-Input Support Support to Old Age Home Health Camps
Page 46
Disclaimer 46 Utkarsh Small Finance Bank Limited (also referred to as ‘Bank’). By attending a meeting where this presentation is made, or by reading this presentation material, you agree to be bound by following limitations: The information in this presentation has been prepared for use in presentations by Bank for information purposes only and does not constitute, or should be regarded as, or form part of any offer, invitation, inducement or advertisement to sell or issue, or any solicitation or any offer to purchase or subscribe for, any securities of the Company in any jurisdiction, including the United States and India, nor shall it, or the fact of its distribution form the basis of, or be relied on in connection with, any investment decision or any contract or commitment to purchase or subscribe for any securities of the Company in any jurisdiction, including the United States and India. This presentation does not constitute a recommendation by the Bank or any other party to sell or buy any securities of the Bank. This presentation and its contents are not and should not be construed as a prospectus or an offer document, including as defined under the Companies Act, 2013, to the extent notified and in force or an offer document under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended. The Bank may alter, modify, revise or otherwise change in any manner the contents of this presentation without any liability to modify any person of such change or changes. No representation warranty implied as to and reliance or warranty, express or implied, is made to, nor should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither Bank nor any of its affiliates, advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. This presentation is based on the economic, regulatory, market and other conditions as in effect on the date hereof. Subsequent developments may affect the information contained in this presentation, which neither Bank nor its affiliates, advisors or representatives are under any obligation to update, revise or affirm. This presentation contains certain supplemental measures of performance and liquidity that are not required by or presented in accordance with Indian GAAP and should not be considered as an alternative to profit, operating revenue or any other performance measures derived in accordance with Indian GAAP or an alternative to cash flow from operations as a measure of liquidity of the Bank. You must make your own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make independent analysis as you may consider necessary or appropriate for such purpose. Any opinions expressed in this presentation are subject to change without notice and past performance is not indicative of future results. By attending this presentation, you acknowledge that you will be solely responsible for your own assessment of the market position of the Bank and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Bank ’s business. This presentation contains forward‐looking statements based on the currently held beliefs and assumptions of the management of the Bank , which are expressed in good faith and, in their opinion, reasonable. Forward‐looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Bank or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward‐looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding expansion plans and the benefits there from, fluctuations in our earnings, our ability to manage growth and implement strategies, competition in our business including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, our ability to win new contracts, changes in technology, availability of financing, our ability to successfully complete and integrate our expansion plans, liabilities, political instability and general economic conditions affecting our industry. Unless otherwise indicated, the information contained herein is preliminary and indicative and is based on management information, current plans and estimates. Industry and market‐related information is obtained or derived from industry publications and other sources and has not been verified by us. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward‐looking statements. The Bank disclaims any obligation to update these forward‐looking statements to reflect future events or developments.
Page 47
7/31/2025 47