Ujjivan Small Finance Bank Share Price Live

History of Ujjivan Small Finance Bank (USFB) Limited 

Ujjivan Small Finance Bank (USFB) Limited is a small finance bank in India. The bank offers banking and insurance services. In 2005, USFB’s promoters, Ujjivan Financial Services Limited (UFSL), started as a Non-Banking Financial Company (NBFC) to offer financial services for the economically active poor. In 2015, it got approval from the RBI to set up a Small Finance Bank (SFB) and created Ujjivan Small Finance Bank Limited as its wholly-owned subsidiary. After receiving final approval in 2016, UFSL transferred its lending and financing business to the bank, and it officially started operating as a Small Finance Bank on February 1, 2017. In 2019, the bank released its IPO and was listed on the stock exchanges in India. The IPO was oversubscribed 170 times and became the most successful IPO in 2019. It was the Best Banking, Financial Services and Insurance (BFSI) IPO in the last 4 years. In the next year, in 2020, the Ujjivan Small Finance Bank expanded its network to 575 branches and had a customer base of more than 54 lakh. In 2023, they began their operations in Telangana and launched the country’s first Voice-Visual-Vernacular banking app, Hello Ujjivan. As of March 2023, Ujjivan Small Finance Bank has 629 banking outlets, 517 ATMs and 24 offices across the country in 26 states over 304 districts. They offer their services all over the country, catering to minors, senior citizens, Micro, Small and Medium Enterprises (MSME) customers, corporate entities, government entities, physically challenged customers, underserved customers, etc. Ujjivan Small Finance Bank has a customer base of 76.9 lakh.

Business Segments of Ujjivan Small Finance Bank Limited 

The primary business segments of the bank are as follows:

• Business: Under this segment, the bank provides banking services like loans, current accounts and cards to businesses.
• Personal: Under this segment, the bank provides personal banking services, such as loans, savings accounts, term deposits, home loans, micro loans, insurance, two-wheeler loans, and cards.
• Rural: In this segment, the bank provides banking services, such as cards, loans, savings accounts, term deposits, etc., to customers in rural regions.
• Corporate: Under this segment, the bank provides services like loans, current accounts and cards to corporate customers.
• NRI: Under this segment, the bank offers banking services, including accounts, term deposit services and more to NRIs.
• Government and Institutional: Under this segment, the bank provides savings accounts, current accounts, term deposits and more banking services.

As of March 31, 2023, there are no subsidiary companies of Ujjivan Small Finance Bank Limited.

Key Personalities of Ujjivan Small Finance Bank Limited

Ittira Davis, Managing Director and Chief Executive Officer (CEO) Baldev Prakash is the Managing Director and CEO of Ujjivan Small Finance Bank Limited. He has more than 40 years of experience in the banking sector. He joined Ujjivan Small Finance Bank Limited in 2015. Before joining Ujjivan Small Finance Bank, he worked at Europe Arab Bank, Citibank (India) and the Arab Bank Group (Middle East).