Suryoday Small Finance Bank Limited — Updates, 23-01-2025: Press Release

Suryoday Small Finance Bank Limited reported strong growth in its gross advances portfolio, reaching ₹9,563 Cr, a robust 25.8% increase year-on-year. Despite a decrease in disbursements to ₹1,467 Cr (-18.1% YoY), retail asset lending, particularly in mortgages, showed positive trends with a 24% rise year-on-year. Deposits surged by 49.7% to ₹9,708 Cr, aided by digital mobilization strategies.

Financially, the bank's net interest income climbed 9.2% to ₹268.3 Cr, although total income rose only 3.4% to ₹307.8 Cr. Profit After Tax (PAT) fell by 41.8% YoY to ₹33.3 Cr, primarily affected by a significant reduction in the pre-provision operating profit, dropping to ₹71.4 Cr amid a tighter lending environment. Key metrics highlighted a GNPA ratio of 5.5% and an NNPA ratio of 3.1%. The bank's capital position remains solid with a CRAR of 26.9%. Management emphasized a focus on collections and growing digital deposits, suggesting a positive outlook for future performance amid ongoing challenges.