Utkarsh Small Finance Bank Limited · NSE:UTKARSHBNK
Utkarsh Small Finance Bank — Q3 FY26 Earnings Presentation
47 slides from Utkarsh Small Finance Bank's earnings presentation, Feb 2, 2026
Slide 1: Cover letter to stock exchanges
February 02, 2026 BSE Limited National Stock Exchange of India Limited Scrip Code: 543942, 975790, 959644, Symbol: UTKARSHBNK 958226, 976203 Dear Sir/Madam, Sub: Investor Presentation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regu
Slide 2: Investor Presentation Q3 FY26
Slide 3: Key Highlights Q3'FY26 – Assets & Liabilities
Key Highlights Q3’FY26 – Assets & Liabilities December 31, December 31, Change September 30, Change Particulars 2025 2024 YoY 2025 QoQ (Amount in ₹ Crore) (Limited eview) % (Limited eview) % Gross Loan Portfolio* 18,306 19,057 (3.9)% 18,655 (1.9)% JLG (incl. BC JLG) Loan Portfolio* 6,419 9,737 (34.1
Slide 4: Key Highlights Q3 & 9M'FY26
Key Highlights Q3 & 9M’FY26 9M FY26 Q3 FY26 ₹18,306 cr. vs. Loss ₹963 cr. vs. Loss ₹375 cr. vs. ₹21,087 cr. vs. ₹2,961 cr. vs. 11.0% vs. [6.2%] 1,105 vs. [1,028] [₹19,057 cr.] Profit [₹21 cr.] Loss [₹168 cr.] [₹20,172 cr.] [₹2,965 cr.] Gross NPAs Banking Outlets Gross Loan Profit After Tax Profit After
Slide 5: Journey and Franchise; Portfolio Build Up; Deposits Build Up
Journey and Franchise Portfolio Build Up Deposits Build Up Financial Performance Technology, ESG & CS 4
Slide 6: Journey and Franchise
Journey and Franchise Committed journey of ~16 years from Microfinance to Small Finance Bank to Listed Company Significant presence in rural & semi urban locations and under penetrated States of the Country Di erentiated branch network to ensure relevant product o erings for customers & ensuring cost
Slide 7: Utkarsh Journey
Utkarsh Journey In Jul-23 Bank launched IPO to raise equity capital of ₹500 crore; Bank successfully raised equity IPO oversubscribed >100 X; capital through ights Issue for Higher ever annual PAT of ₹498 an amount aggregating to ₹950 crore in FY24 crore in Nov-25 FY26 FY24 FY25 Launched digital on-
Slide 8: Business Overview
Business Overview Focus on Financial inclusion, o er a range of financial products and services that address the specific requirements of customer segments Micro-Banking 41% Other etail Loans 46% Joint Liability Business MSME Loans Housing Group Loans Loans ( etail Assets) Loans Asset 33% 8% products
Slide 9: Diversified distribution network
Diversified distribution network Extensive physical network of Banking Outlets (Dec’25) Potential for etail Assets within existing Branches (Dec’25) Subset of GB Branches >50 Outlets Total MB GB MSME HL Wheels 1 <50 Outlets STATES Banking Outlets Outlets* Locations Locations Locations Outlets No Outl
Slide 10: Portfolio Build-up
Portfolio Build-up • Slowdown witnessed in JLG segment due to market Non-JLG Loan portfolio grew by 27.5% YoY disruptions ural & semi urban franchise, deep rooted understanding • Continued focus on high yield products & improving of our core geographies, proven track record - key productivity streng
Slide 11: Loan Portfolio Build-up
Loan Portfolio Build-up All Amounts in ₹ Crores Product CAG % Loan Book (Mar-20) (FY20-9M’FY26) Micro-Banking Business Loans (MBBL) 128% Wholesale Housing etail Lending Loans Other etail Loans** 64% Loans 5% 1% Others* (MSME) 2% JLG* 19,666 18,306 4% MBBL 18,299 Other Retail Loans** MBBL JLG 2,240 0
Slide 12: Evolving Portfolio Mix
Evolving Portfolio Mix 10% 16% 24% 35% 39% 53% 65% 90% 84% 76% 65% 61% 47% 35% Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'25 Dec'25 JLG (incl. BC JLG) Non-JLG 57% 50% 69% 66% 86% 78% 92% 43% 50% 31% 34% 14% 22% 8% Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'25 Dec'25 Secured Unsecured 11
Slide 13: Micro-Banking Lending
Micro-Banking Lending 12
Slide 14: Micro-Banking Lending
Micro-Banking Lending All Amounts in ₹ Crores Portfolio Outstanding 10,066 9,679 9,079 8,271 7,497 Q3’FY26 JLG MBBL MBBL 812 Customer Base >20 Lakh <2 lakh penetration 918 916 level <10%, 1,052 significant 1,451 Portfolio ₹6,046 Crore ₹1,444 Crore potential to 19% grow 9,255 Average Ticket Size 8,761
Slide 15: Joint Liability Group (JLG) Lending
Joint Liability Group (JLG) Lending All Amounts in ₹ Crores Portfolio 9,255 8,761 8,163 7,218 6,046 Geographical Split of JLG Portfolio Disbursements Madhya 1,340 Maharashtra Pradesh Other 1,296 Odisha 4% 3% States 1,088 6% Presence 7% across 13 Jharkhand States / UTs 872 835 8% Uttar Pradesh Bihar
Slide 16: Micro-Banking Business Loans
Micro-Banking Business Loans All Amounts in ₹ Crores Portfolio 801 910 909 910 1,046 909 1,444 Geographical Split of Portfolio Disbursements Odisha, Maharashtra, Madhya 4% 3% 592 Pradesh, 5% Other States, 4% Jharkhand, Presence 6% across 13 States / UTs 305 260 175 Bihar, 153 Uttar 48% Pradesh 30% Q
Slide 17: Other Retail Lending
Other etail Lending MSME ( etail Assets) Housing Loans CE & CV Loans 16
Slide 18: MSME (Retail Assets) Lending
MSME ( etail Assets) Lending All Amounts in ₹ Crores Portfolio Outstanding 4,164 4,275 3,875 4,001 3,453 Secured Unsecured Micro LAP / Business Loans Business Loan Overdraft (LAP) Dec'24 Mar'25 Jun'25 Sep'25 Dec'25 13.2% 13.7% 13.4% 13.1% 13.1% 700 o Significant presence in our core geography 600 o O
Slide 19: Housing Loans
Housing Loans All Amounts in ₹ Crores Portfolio Outstanding etail Housing Loans A ordable Housing 947 965 918 929 855 o Significant presence in our core geography o Currently o ering HL product from 62 Dec'24 Mar'25 Jun'25 Sep'25 Dec'25 locations, significant headroom to expand 11.2% 11.3% 11.1% 11.3%
Slide 20: CE & CV Loans
CE & CV Loans All Amounts in ₹ Crores Portfolio Outstanding 1,188 1,179 1,134 1,144 1,102 CV (New) CE (New) CV & CE (Used) • 77% of total • 12% of total • 11% of total portfolio portfolio portfolio o Lending primarily to small fleet operator segment Dec'24 Mar'25 Jun'25 Sep'25 Dec'25 o Currently o e
Slide 21: Geographical Split of Other Retail Lending
Geographical Split of Other etail Lending All Amounts in ₹ Crores Portfolio 6,849 7,747 7,957 8,194 8,393 Geographical Split of Other etail Lending Portfolio Disbursements Presence across 27 States / UTs 1,249 WEST JHA KHAND PUNJAB BENGAL Other States 1,062 3% 3% 3% 14% 855 TELANGANA UTTA 736 742 7%
Slide 22: Wholesale Lending
Wholesale Lending All Amounts in ₹ Crores Portfolio Break up (Mar-20) Portfolio Break up (Dec-25) WSL Dec-25 Dec-24 Sep-25 Portfolio O/s ₹2,416 ₹2,142 ₹2,190 Business Business Share in Gross Loan Portfolio 13% 11% 12% Started Business Banking Group Banking in FY21 Banking Group 0% 41% ating Wise WSL
Slide 23: Deposits Build-up
Deposits Build-up Deposits grew by 5% YoY; etail Term Deposits grew by 24% YoY Expanded General Banking Franchise significantly Targeting top-100 deposits centres of the country Focus on building retail franchise 22
Slide 24: Deposits Trend & Composition
Deposits Trend & Composition All Amounts in ₹ Crores Deposits Trend CD ratio (excl. Deposits Composition refinance) at Deposits (5% YoY Growth) 74%** 20% 22% 20% 21% 22% CASA 70% 71% 74% 78% 82% CASA + TD 92% 87% 83% 79% 79% 25,000 90% 26% 22% 18% Institutional Term Deposits 80% 21,566 21,489 21,447
Slide 25: Deposits Trend & Composition (Contd.)
Deposits Trend & Composition (Contd.) All Amounts in ₹ Crores Geographically well diversified Deposits* mix etail Term Deposits Tenure wise Break up Uttar Pradesh 18.7% Mar-23 Dec-25 NCT of Delhi 11.9% 3 Years and above 3 Years and above 7% 34% Maharashtra 11.2% Haryana 7.9% West Bengal 5.6% Uttarakh
Slide 26: Asset Quality Movement
Asset Quality Movement All Amounts in ₹ Crores PC % 61.1% 51.2% 59.2% 62.7% 62.2% Dec-24 Sep-25 Dec-25 Gross NPA % 6.2% 12.4% 11.0% 2,196 2,276 1,986 Net NPA % 2.5% 5.0% 4.5% 1,854 SMA 1 & 2 % 1,177 5.6% 905 897 848 751 4.0% 4.1% 4.4% 4.1% 458 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Gross NPAs Net NPAs D
Slide 27: Micro-Banking – Asset Quality
Micro-Banking – Asset Quality Collection E ciency (excl. Pre-Payments) Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 88% 86% 82% 80% 82% SMA 0 % 3.2% 1.1% 1.9% 1.8% 0.9% SMA 1 % 3.1% 1.6% 1.5% 1.3% 0.9% SMA 2 % 3.8% 2.2% 1.7% 1.7% 1.4% Total SMA % 10.1% 5.0% 5.1% 4.9% 3.2% NPA % 9.7% 16.7% 20.8% 23.0% 20.5% Q3
Slide 28: Financial Performance
Financial Performance esults impacted due to market disruptions in MFI segment Secured assets growth and deposits build-up in line with expectations 27
Slide 29: Profit & Loss
Profit & Loss: For the quarter and nine months ended December 31st, 2025 All Amounts in ₹ Crores Particulars 9M’FY26 9M’FY25 Y-o-Y Q3’FY26 Q3’FY25 Y-o-Y Q2’FY26 Q-o-Q INCOME Limited eview Limited eview Limited eview Total Interest Earned 2,542 2,885 (12)% 821 932 (12)% 840 (2)% Less : Interest Expens
Slide 30: Balance Sheet: As on December 31st, 2025
Balance Sheet: As on December 31st, 2025 All Amounts in ₹ Crores December 31st, December 31st, September 30th, Particulars Y-o-Y Q-o-Q 2025 2024 2025 CAPITAL & LIABILITIES Limited eview Limited eview Capital and eserves 2,961 2,965 0% 2,394 24% Deposits 21,087 20,172 5% 21,447 (2)% Borrowings 2,624
Slide 31: Profitability Metrics
Profitability Metrics Operating Profit & PAT – Quarterly Trend (₹ in crores) YTD Operating Profit & PAT (₹ in crores) 185 234 773 3 92 21 44 (3) (44) (168) (239) (348) (375) (963) Q3' FY25 Q4' FY25 Q1' FY26 Q2' FY26 Q3' FY26 9M'FY25 9M'FY26 Operating Profit (PPoP) PAT Operating Profit (PPoP) PAT 18.5%
Slide 32: Profitability Metrics (Contd.)
Profitability Metrics (Contd.) 3.5% 9.2% 59.8% / 10.8% 96.9% / 12.4% 9M’FY25 9M’FY26 9M’FY25 9M’FY26 9.7% 9.6% 110.3% 8.8% 8.5% 100.7% 83.0% 4.7% 68.4% 66.5% 11.3% 15.6% 11.6% 32.6% 9.8% Credit Cost Q3'FY25 Q4'FY25 Q1'FY26 Q2'FY26 Q3'FY26 Q3'FY25 Q4'FY25 Q1'FY26 Q2'FY26 Q3'FY26 Cost to Income Ratio N
Slide 33: Break-up of Other Income
Break-up of Other Income All Amounts in ₹ Crores ₹ 105 crore ₹ 97 crore ₹81 crore 24 37 25 30 13 25 12 25 12 31 28 22 Q3'FY25 Q2'FY26 Q3'FY26 Loan Processing Fee PSLC Income Recovery from written off accounts General Banking & Other Income 32
Slide 34: CRAR & Tier 1
C A & Tier 1 All Amounts in ₹ Crores Particulars Dec-25 Dec-24 Sep-25 isk Weighted Assets 14,227 15,200 13,994 Total Capital 2,861 3,207 2,409 Tier-I Capital 2,433 2,727 1,982 Tier-II Capital 427 480 427 C A 20.11% 21.10% 17.21% Tier-I C A 17.10% 17.94% 14.16% Tier-II C A 3.00% 3.16% 3.05% 33
Slide 35: Shareholding Pattern
Shareholding Pattern Bank Shareholders as on December 31st, 2025 Top 10 Shareholders as on December 31st, 2025 Utkarsh CoreInvest Limited Cohesion MK Best Ideas Sub-Trust Individuals Foreign ICICI Prudential Life Insurance Company Limited & Others, Companies, India Capital Fund Limited 25.3% N Is, 3
Slide 36: Diversified & Experienced Board
Diversified & Experienced Board Board Members of the Bank Dr. Kshatrapati Shivaji Parveen Kumar Gupta Part Time Chairman & Independent Director (w.e.f. July 01, 2025) Independent Director (Part Time Non-Executive Chairman till June 30,2025) • IAS ( etd.); experienced in Banking, Economics, Finance, a
Slide 37: Leadership Complementing Bank's Strengths
Leadership Complementing Bank’s Strengths Senior Management Team Govind Singh - Managing Director & Chief Executive O cer • 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 Promo
Slide 38: Tech, ESG & CSR
Tech, ESG & CS Technology Setup to support Physical Infrastructure and Digital equirement Integrating ESG Sensitivities into our operations & decision- making Contributing to the well-being of the society 37
Slide 39: 360-Degree Transformation → Bank Future Growth Ready
360-DegreeTransformation → Bank Future Growth eady Driving Sustainable Business Growth in the Modern World Automation / E ciency Transformation 5x improvement via automation BOT e-architecting and revamping the old technology stack Process re-engineering & Collection workflow New Core Bankin
Slide 40: Focus on risk management & effective operations
Focus on risk management & e ective operations isk Management practices in Credit Assessment obust Underwriting Discipline Enhanced Financial Due Diligence Scorecard-based evaluation ensures Deployment of advanced analytical tools objective borrower assessment. (e.g., Perfios) for comprehensive r
Slide 41: Environment, Social & Governance
Environment, Social & Governance Environment Social Governance Practice is aligned Committed to give •Exclusion List •Service to Bottom •Diversified Board •Training and of pyramid •Board with the national E&S due consideration to awareness •Inclusive finance independence laws and regulations environme
Slide 42: Awards & Accolades
Awards & Accolades Best Embedded Finance Initiative - Banks GBESI Utkarsh Small Fil EXCELLER Bank Limited Awards eee H Cyber Security Team of the Year } H at the 4% IBA CISO Summit & Citations 2025 i : Payment & Small Finance Banks }
Slide 43: Utkarsh Welfare Foundation: CSR Initiatives
Utkarsh Welfare Foundation: CS Initiatives SKILL & ENTE P ISE VILLAGE DEVELOPMENT OTHE PHILANTH OPIC FINANCIAL AWA ENESS HEALTH INITIATIVES DEVELOPMENT P OG AM P OG AM & EDUCATION ACTIVITIES Initiatives Lives Impacted Lives Impacted Lives Impacted Blood Donation Camps, Lives Impacted 27,90,000+ 46,0
Slide 44: Utkarsh Welfare Foundation: CSR Initiatives (Contd.)
Utkarsh Welfare Foundation: CS Initiatives (Contd.) Financial Awareness Health Camps E-Clinics Smart Classes Women Village Development Blood Donation Camps Health Awareness Entrepreneurship Program Learning Enhancement Weavers Support Support to Old Age Agri-Input Support Program Program Home 43
Slide 45: Utkarsh Welfare Foundation: CSR Initiatives (Contd.)
Utkarsh Welfare Foundation: CS Initiatives (Contd.) Skill Development Farmers Orientation Sponsorship Support Swasthya Mitra Program under VDP Women Supporting ural Installation of Water Handover of Sanitation Entrepreneurship Children’s Education ATM Boat Digital Financial Literacy Financial Litera
Slide 46: Disclaimer
Disclaimer 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 presentation
Slide 47: THANK YOU.
THANK YOU. ©) Utkarsh Small Finance Bank
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