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National, 20th December 2021: Kyzer Software, a Fin-Tech in the Banking & Finance Industry, has been felicitated as the Best Trade Finance Implementation at the 03rd Edition of IBS Intelligence Innovation Awards 2021 held virtually on 16th December 2021 having global participants across 48 countries.

Established in 1991, UK headquartered IBS Intelligence is the world’s most trusted source of Financial Technology Research, News Analysis & Advisory. IBSI’s Sales League Table is considered the global industry barometer ranking leading banking technology companies.

Speaking on the occasion, Mr. Manish Bharucha, CEO, Kyzer Software, said, “We have a great start for FY 2022. I thank IBS for the ‘Best Trade Finance Implementation Award’ for the second consecutive year. A week back we were in news when Kyzer made it to RegTech 100. The banks have validated their faith in us.I am grateful to my team in putting their efforts behind Kyzer achievements.
Kyzer brings Domain expertise & Technical experience as part of its First Suite offering for Trade Finance Automation and Regulatory Management. This is backed by qualified round-the-clock technical support team.
Since its inception in 2016, the company has partnered with 16+ banks across India. On the technology front, the solutions comprise of latest in BPM, DMS, Rules-Engine and API Integrations. And they are continuously working to incorporate New Technologies in future releases.
These Award-Winning solutions are great examples of how in partnership with our banking customers, we can reinvent and shape the future of banking. It also provides intrinsic motivation and improved morale for our Kyzer family. These nominations and awards establish our focused efforts, open numerous doors and gives instant credibility with potential customers.”

Kyzer is a leading banking software company, creating automation solutions that work and help create unprecedented value and opportunity for our customers, employees, investors, and ecosystem partners. Focused towards creation of Banking RegTech, Trade Finance & Automation products supporting wide range of Trade products & “Multiple Regulations” within a unified platform.
They implement solutions to make the digital transformation successful. For over 5 years, leading Indian and Multinational Banks have leveraged Kyzer’s innovative technology and solutions to streamline their processes and drive smarter business decisions.

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Utkarsh Small Finance Bank gets SEBI approval to float IPO


Varanasi, Uttar Pradesh based, Utkarsh Small Finance Bank Ltd, has received market regulator Securities and Exchange Board of India’s (SEBI) nod to raise Rs. 1350 crore through the Initial Public Offering (IPO) route. The company had filed DRHP with SEBI on March 5, 2019.

The IPO consists of fresh issue aggregating up to Rs 750 crore and an offer for sale of up to Rs  600 crore by the selling shareholder Utkarsh Coreinvest Ltd. The equity shares, of face value Rs 10 each, will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange) BSE.  The public issue of shares, of face value of Rs 10 each, will be listed on both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

As stated in the DRHP, the company intends to utilize the net proceeds from the fresh issue to augment its tier 1 capital base to meet future capital requirements arising out of growth in its assets, i.e Loans and Advances. The company may consider raise Rs. 250 Cr through a pre IPO placement which would be in consultation with the appointed lead managers to the issue. If the pre-IPO placement, of equity shares aggregating upto Rs 250 crore, is undertaken, the amount will be reduced from the fresh issue.

The company intends to utilize the net proceeds from the fresh issue to augment its tier 1 capital base to meet future capital requirements arising out of growth in its assets, i.e Loans and Advances. The company may consider raise Rs. 250 Cr through a pre IPO placement which would be in consultation with the appointed lead managers to the issue.

The fast growing Varanasi headquartered company, who’s SFB was incorporated in 2016 and commenced operations in 2017, is one of the most profitable small finance banks in the country as on FY 2020, according to the CRISIL report. As on September 30, 2020, the retail and technology focused, small finance bank across 528 banking outlets has served 2.74 million customers majorly located in rural and semi urban areas in the states of Bihar, Uttar Pradesh and Jharkhand that has a significant untapped market. Its deposits and disbursements have grown at a CAGR of 54.48% and 33.66% respectively, between FY 18-20 and as on March 31, 2020 had the lowest gross and net NPA ratios amongst its SFB peers. Between FY17-20 Small Finance banks have registered an AUM growth rate of 30% CAGR and the loan portfolio is expected to see a growth of 22% in the near term.

ICICI Securities Ltd., IIFL Securities Ltd. and Kotak Mahindra Capital Company Ltd. are the BRLMS to the Issue.

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ESAF Small Finance Bank reports 28.07% increase in operating profit



Kochi: Kerala-based social bank, ESAF Small Finance Bank has recorded a 28.07 % increase in its operating profit for the year ended March 31, 2021. The Operating profit increased from 324.70 crores to 415.84 crores despite the challenges faced during the year. Deposits have grown by 28.04% from ` 7028 Crore as at 31 March 2020 to ` 8999 Crore for the year ended 31 March 2021. Total CASA improved to ` 1748 Crores from ` 960 Crores marking a growth of 81.99% over the same period last year. CASA proportion to Deposits also significantly improved from 13.55% for the Year ended
31 March 2020 to 19.42% for the year ended 31 March 2021. The Net Profit of the Bank for the year ended 31 March 2021 stood at ` 105.40 Crore as compared to ` 190.39 over the same period last year. Further, the Bank as a prudent measure holds provision in excess of the RBI requirement in the standard category to the extent of ` 91 Crore as at 31 March 2021.

Commenting on the results, K. Paul Thomas, Managing Director and CEO of ESAF Small Finance Bank, said “The bank has improved operating profit and total business despite the challenges posed by the pandemic. With the support of our customers and their unwavering faith in us, we could also enhance our presence across the country. The reduction in the PAT was mainly due to the higher provisions during the fiscal.”

Gross Advances increased by 27.37% from ` 6606 crore to ` 8415 Crore while total Business reached ` 17,425 Crore registering a growth of 25.85% as on 31 March 2021. It was ` 13,846 Crore last year.

During the  year the Bank has raised Tier I capital amounting to ` 162.59 Crore by way  of a private placement. This along with the current year’s profit improved the CRAR by 20 BPS from 24.03% as at 31 March 2020 to 24.23% as at 31 March 2021, despite the increase in business.

Due to a severe crisis at the Grass root level due to the pandemic, the collection efficiency was adversely impacted thereby increasing the gross NPA level at 6.70% and Net NPA by 3.88%.

At present, ESAF Small Finance Bank has a presence in 19 states and 2 union territories. The bank launched 96 branches in the last financial year. As on March 31, 2021, the Bank is serving over 43 lakh customers through 550 branches and 308 Customer Service Centres.