Ujjivan Small Fin says not in talks with any third party for MF distribution
This story was originally published at 16:07 IST on 10 July 2026
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MUMBAI – Ujjivan Small Finance Bank Friday denied a news report that it was in negotiations with any third party regarding the launch of its mutual fund distribution business. In a clarification to exchanges, the bank also said recent movements in its share price were unrelated to the news article published on economictimes.com on Jul. 7.
In an interview, Hitendra Jha, head of retail liabilities, said the small finance bank has begun distributing mutual funds. It is also rolling out a range of offerings for customers, including dedicated relationship managers, hybrid wealth lounges in major cities, and a premium banking programme. Jha added that the bank has partnered with fintechs to provide investment advisory services.
The report said the bank has forayed into the wealth and affluent segment to strengthen its liability franchise. It also said the bank is targeting around INR 2 billion in mutual fund assets under management in the first year of operations.
While the bank confirmed Jha's comments, it denied having any third-party negotiations on the matter. It also stated that all required disclosures have been made to the stock exchanges.
"Considering that the shares of the bank are freely traded on the stock exchanges, the bank will not be in a position to comment on the movement in its share price and, in our view, the said news article has no bearing on the price movement of the bank scrip today, July 9, 2026," Ujjivan Small Finance Bank said.
Friday, the small finance bank's shares ended 4.3% higher at INR 65.43 on the National Stock Exchange. The Bengaluru-headquartered bank reported a net profit of INR 2.82 billion for the Jan-Mar quarter on total income of INR 21.85 billion.
US$1 = INR 95.38
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Janwee Prajapati
Edited by Saji George Titus
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