Utkarsh Small Finance Bank started off as a micro finance Institution (NBFC-MFI) & gradually transformed into to a small finance bank. The bank’s lending activities are primarily focussed in rural and semi-urban locations of the country while its deposit mobilisations and other services are spread across the country. As a small finance bank, it has an agenda to primarily focus on a micro banking products for specific sets of people & region. It has diversified and come up with customization of its product as per the regulatory norms to offer best products to its customers in retail loans, unsecured loans, business loans, personal loans, housing loan and secured loans such as loans against property, wholesale lending that includes short term and long-term loan facilities to small and medium enterprises (SMEs), mid and large corporate and institutional clients and gold loans. The Bank is headquartered at Varanasi, Uttar Pradesh & there are close to 830 operational branches spread across 22 States and 4 Union Territories till date.

Micro Banking

Micro banking business is spread across multiple districts covering 12 states and provides a comprehensive package of financial inclusion products and business development services to the lower income group of people who have been alienated to financial services.

Retails Loans

The bank provides an access to certain sets of individuals who are investing on an asset in a form factory, house or car under Micro Small & Medium Enterprises (MSME), Housing Loan, Wheels.

Wholesale Banking

USFBL provides an assistance with wholesale banking feature & offers both funds based (Working Capital Loan & Term Loan) & non-fund-based limits in the form of bank guarantee to the customers under this vertical.

Business Correspondent

This is done in a partnership by building up a network to meet the end of business interest either by establishing their own branches or partnership approach.

Financial Highlights

  • Total deposits accounting worth of INR 13,710.14 crore in FY23 is done where contribution coming from Savings account – INR 2,479 crore (18%), Current account – 384 crores (3%), Retail term deposits- 5,575 crore (41%), Aggregate deposit – 4,926 crore (36%), Certificate of Deposit’s – 345 crores (2%) & witnessed an astonishing growing rate - 36% on YoY. Also, Gross Loan Portfolio is at INR 13,957 crore in FY 23 growing at 31% YoY.
  • Net profit registered during the same period (FY23) was around INR 405 crore which is new milestone for Utkarsh bank.
  • The Bank’s Capital to Risk weighted Asset Ratio (CRAR) stood at 20.64%. Further, the Tier-I CRAR of the Bank stood at 18.25% as of FY23.
  • Bank witnessed improvement in asset quality with reduction in Gross NPA & Net NPAs to 3.23% & 0.39% respectively during FY23 from 6.10% & 2.31% respectively in FY22.

Financial Figures (INR Crores)

Particulars Mar-23 Mar-22 Mar-21 Mar-20 Mar-19
Deposits 13,710.14 10,074.18 7,507.57 5,235.21 3,791.39
Gross Loan Portfolio 13,957.11 10,630.72 8,415.66 6,659.99 4,741.55
Total Income 2,804 2,033 1,725 1,406 939
Total Expenses 2,399 1972 1613 1219 845
Profit Before Tax 535.81 79.71 151.44 250.42 148.81
Profit After Tax 404.5 61.4 111.82 186.74 93.89
Earnings Per Share 4.51 0.7 1.46 2.49 1.37
Capital Adequacy Ratio 20.64 21.59 21.88 22.19 24.14
Return on Avg. Total Asset 2.42% 0.48% 1.05% 2.51% 1.83%

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The bank is capitalizing on their retail banking services, products & solutions for further expansion. It is systematically working to develop and offer a comprehensive portfolio of assets that will drag the attention of new customers and retain the current ones. At the same time, it is adopting new tech platforms & offering digital solution to provide memorable services and solutions. It is also implying regional tactics to expand their diaspora & financial inclusivity. The Bank intends to increase the share of secured lending in overall portfolio in the years to come.


Like any other bank, Utkarsh Small Finance Bank is also surrounded by the risks involved in running the bank. It monitors short term as well as long term risk which consists of credit risk (default done by their borrowers), market risk which arises due to change in monetary & fiscal policies apart from internal & external dictation on the economy of the country, liquidity risk (investment done by the banks), dependencies on few industries to generate revenue etc.

Credit Ratings

The Bank has been assigned the highest-grade credit rating for the short term at A1+ by ICRA. Also, The Bank’s long-term subordinated bonds are rated at A (Stable) rating by the rating agencies i.e., ICRA and CARE Ratings.


These are the following insurance partners of the bank: - Aditya Birla Health Insurance Company, Bharti AXA Life Insurance Company, Future Generali India Insurance Company, HDFC ERGO General Insurance Company, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, Kotak Mahindra General Insurance Company.

Shareholding Pattern

British International Investment PLC (13.94%), RBL Bank Limited (9.86%), NMI Frontier Fund KS (7.82%), Faering Capital India Evolving Fund II (7.78%), Hero Enterprise Partner Ventures (4.92%), Shriram Life Insurance Company Limited (4.9%), ICICI Prudential Life Insurance Company Ltd (4.22%), Aavishkaar Goodwell India Microfinance Development Company II Limited (4.07%) etc.

Key Managerial Personnel

Praveen Kumar Gupta – Chairman

Mr. Govind Singh – Managing Director & CEO

Mr. Sarjukumar Pravin Simaria – Chief Financial Officer

Mr. Alok Pathak – Chief Risk Officer

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