Suryoday Small Finance Bank Ltd Share Price – NSE /  BSE

Banks, Small Cap

Suryoday Small Finance Bank will hold a meeting of the Board of Directors of the Company on 24 October 2024.

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Gross advances include inter-bank participation certificates (IBPC) of Rs 350 crore for Q2 FY25 (Rs 550 crore for Q1 FY25 and Rs 100 crore for Q2 FY24).

Sequentially, gross advances rose 4% as compared to Rs 9,037 crore posted on 30 June 2024.

Disbursements for the quarter ended 30 September 2024 stood at Rs 1,626 crore, up 2% YoY and down 7% QoQ.

The bank’s total deposits grew by 39% YoY and 9% QoQ to Rs 8,851 crore reported in Q2 FY25. Retail deposits increased to Rs 7,100 crore and bulk deposits stood at Rs 1,751 crore during the quarter.

The bank's CASA (Current Account Savings Account) deposits stood at Rs 1,581 crore in Q2 FY25, registering a growth of 10% in QoQ and 57% YoY.

CASA ratio increased to 17.9% in Q2 FY25 as against 17.7% recorded in Q1 FY25 and 15.7% posted in Q2 FY24.

Collection efficiency was at 98.4% as on 30 September 2024 as against 101% as on 30 June 2024 and 102% as on 30 September 2023.

Gross non-performing assets (NPAs) was at 2.92% as on 30 September 2024 as compared to 2.67% as on 30 june 2024 and 2.86% as on 30 September 2023.

As of 30 September 2024, gross non-performing assets (NPAs) stood at 2.92%, up from 2.67% on 30 June 2024 and 2.86% on 30 September 2023.

The Bank is committed to build a strong retail deposit franchise. Deposits continue to grow faster than Advances as the Bank seeks to achieve a CD Ratio of 100% by March 2025.

Suryoday Small Finance Bank is a scheduled commercial bank. The bank has a wide presence across 15 states and UTs across India through its 577 banking outlets, with a strong presence in Maharashtra, Tamilnadu and Odisha.

The bank’s net profit surged 56.4% to Rs 60.84 crore in Q4 FY24 as compared to Rs 38.91 crore recorded in Q4 FY23. Total income jumped 40.2% YoY to Rs 509.36 crore in Q4 FY24.

The scrip slipped 3.21% to Rs 168.90 on the BSE.

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Suryoday Small Finance Bank announced that the Annual General Meeting (AGM) of the bank will be held on 12 September 2024.

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Net profit of Suryoday Small Finance Bank rose 47.18% to Rs 70.06 crore in the quarter ended June 2024 as against Rs 47.60 crore during the previous quarter ended June 2023. Total Operating Income rose 36.31% to Rs 488.12 crore in the quarter ended June 2024 as against Rs 358.09 crore during the previous quarter ended June 2023.

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