Meanwhile, the bank has recorded 48% jump in total deposits to Rs 4,684 crore in Q3 FY23 from Rs 3,170 crore in Q3 FY22. Term deposits of Rs 4031 crore comprises of retail at 56% and bulk at 44%.

Gross advances rose by 11% to Rs 5,409 crore in Q3 FY23 from Rs 4,872 crore in Q3 FY22. Disbursements for the quarter stood at Rs 1,265 crore, up 13% YoY. Collection efficiency in Q3 FY23 was 110.4% as against 86.5% in Q3 FY22.

GNPA ratio was 4.26% in Q3 FY23 as compared with 10.5% in Q3 FY22. NNPA ratio stood at 2.35% in Q3 FY23 as against 5.6% in Q3 FY22.

The SFB said that it has sold a pool of stressed assets comprising NPA & technically written-off accounts amounting to Rs 492.05 crore (out of which Rs 64 crore is technically written off accounts) for a purchase consideration of Rs 135.1 crore during the month of December 2022.

Suryoday Small Finance Bank (Suryoday SFB) is a scheduled commercial bank. The bank has a wide presence across 13 states and UTs across India through its 565 banking outlets, with a strong presence in Maharashtra, Tamil Nadu and Odisha.

The bank reported a net profit of Rs 13 crore in Q2 FY23 as against a net loss of Rs 1.92 crore in Q2 FY22. Total income rose 14.1% year on year to Rs 305.70 crore in Q2 FY23.