Utkarsh Small Finance Bank Limited — Investor Meet, 19-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Utkarsh Small Finance Bank reported a Q2 FY'26 net loss of Rs. 348 Cr, impacted by legacy stress and new regulatory "guardrails." Gross loan book contracted 2.3% YoY, with JLG down 11% as the bank prioritizes collections. Secured lending is a key focus, now 47% of the book, driving 30% YoY growth in non-JLG segments. Deposits grew 10% YoY, led by retail term deposits and CASA. Management expects asset quality to improve from Q3, with net NPAs declining. The bank is confident in its strategic recalibration, targeting ~25% loan growth, >50% secured book, 8.5% NIM, and 15% ROE by FY'28.