Total income jumped 41.65% to Rs 363.41 crore in Q4 FY23 as against Rs 256.55 crore in Q4 FY22.
The bank has recorded 34.2% jump in total deposits to Rs 5167 crore in Q4 FY23 from Rs 3,850 crore in Q4 FY22. Disbursement stood at Rs 1,684 crore, up 71.8% YoY.
Casa ratio decreased 17.1% as on 31 March 2023 as against 18.8% as on 31 March 2022.
Gross non-performing assets reduced by 67.96% to Rs 191.40 crore as on 31 March 2023 frrom Rs 597.42 crore as on 31 March 2022.
GNPA ratio was 3.1% as on 31 March 2023 as compared with 11.8% as on 31 March 2022. NNPA ratio stood at 1.5% as on 31 March 2023 as against 5.9%as in 31 March 2022.
Provision coverage ratio (excluding write off) reduced by 110 bps to 51.5% as on 31 March 2023 from 52.6% as on 31 March 2022.
On full year basis, the company reported net profit of Rs 77.70 crore in FY23 as compared with net loss of Rs 93.03 crore in FY22. Total income increased 23.73% year on year to Rs 1,281.10 crore in FY23.
Baskar Babu, managing director (MD) & chief executive officer (CEO), Suryoday Small Finance Bank, said, “The bank's gross advances in FY23 crossed Rs 6,000 crores, with the Vikas Loan portfolio crossing Rs 1,200 crores. Vikas Loan is the bank's flagship product in unsecured business loans offered to the bank's existing graduating JLG customers, driven by increased government support for nurturing MSME growth. Consequently, the AUM of the Vikas Loan grew to Rs 1,232 crore in FY23 from Rs 213 crore, while the customer base for the same grew over 2.5 times to approximately 1.9 lakh customers.
Looking ahead to FY24, the bank aims to focus on growing gross advances by approximately 30%, Deposits by around 35%, achieving a return on assets (ROA) of approximately 2.2%, and a return on equity (ROE) of around 15%. Operationally, our key areas of focus include product diversification, maintaining GNPA level below 2.0% and NNPA level below 0.5%, leveraging digital initiatives through multiple apps, taking CGFMU cover for JLG and Vikas Loan, building a Vikas loan book of around Rs 2,000 crore and expanding our branch network.”
Suryoday Small Finance Bank (Suryoday SFB) 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.
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