The bank’s deposits are higher by 20% as compared with the base of Rs 6,484 crore as on 31 December 2023.

CASA ratio was 20.1% as on 31 March 2024 as against 17.1% as on 31 March 2023 and 18.5% as on 31 December 2023.

Gross advances of the bank as on 31 March 2024 stood at Rs 8,650 crore, up 41% YoY and up 14% QoQ.

Collection Efficiency ratio was at 100.6% as on 31 March 2024 as against 102.2% as on 31 March 2023 and 100.1% as on 31 December 2023.

GNPA ratio was at 2.8% as on 31 March 2024 as against 3.1% as on 31 March 2023 and 2.9% as on 31 December 2023.

The bank’s management stated: “The bank has witnessed robust growth in all performance parameters, both sequentially as well as on Y-on-Y basis.

The disbursements in FY24 stood at over Rs 6,900 crore as compared to Rs 5,083 crore in FY23 (Y-on-Y growth of 36%), on the back of a continued momentum in Vikas Loan as well as Retail Assets disbursements.

The bank is committed to building a strong retail liability book. The CASA Ratio has improved by 1.6% [from 18.5% to 20.1%] and the retail deposits grew by approximately Rs 800 crore on a Q-on-Q basis.”

Suryoday Small Finance Bank is a scheduled commercial bank. The bank has a wide presence across 15 states and UTs across India through its 672 banking outlets, with a strong presence in Maharashtra, Tamil Nadu and Odisha.

The bank reported a net profit of Rs 57.2 crore in Q3 FY24, which is sharply higher as compared with the PAT of Rs 18.1 crore posted in Q3 FY23. Net total income increased by 42.3% YoY to Rs 297.6 crore during the period under review.