Business

Struggling with talent, portfolio stress, can Ujjivan bounce back?

By Dan Neff

Ujjivan had brought in Chugh, who was HDFC Bank’s digital banking head, with a vision to transform itself into a digitally-oriented mass market bank.

Synopsis

About 68% of the Rs 14,000-crore loan portfolio is still in the unsecured microfinance space at Ujjivan, where chief executive Nitin Chugh unexpectedly quit last week, capping off a raft of top-level exits at the lender that went public in 2019.

From being among the best workplaces in Asia in 2019 to negotiating a talent-retention challenge two summers later, the journey hasn’t been enviable lately for Ujjivan Small Finance Bank. The microfinance-centric lender appears to have notched up poor scores on two crucial touchstones: HR and risk management.

About 68% of the Rs 14,000-crore loan portfolio is still in the unsecured microfinance space at Ujjivan, where chief executive Nitin

BY

ET Bureau

6 mins read, Last Updated:

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Dan Neff