Suryoday SFB rises after advances increase by 20% YoY in Q2 FY22

Suryoday Small Finance Bank rose 1.61% to Rs 189.85 after the bank's gross advances increased by 19.6% to Rs 4,471 crore as on 30 September 2021 from Rs 3,737 crore as on 30 September 2020.

The gross advances have risen by 11.7% from Rs 4,004 crore as on 30 June 2021.

Disbursements for the quarter increased by 2.84 times to Rs 1,061 crore from Rs 374 crore disbursed in the same period last year. On a sequential basis, the disbursements have risen by 2.94 times from Rs 361 crore as on 30 June 2021.

Total Deposits remained flat at Rs 3,129 crore as on 30 September 2021 as against Rs 3,140 crore as on 30 September 2020. The deposits are lower by 5.7% as compared with Rs 3,317 crore as on 30 June 2021.

CASA ratio was at 18.49% as on 30 September 2022 as against 11.08% as on 30 September 2021 and 16.17% as on 30 June 2021.

The company's collection efficiency improved to 113% in September 2021 from 89% in June 2021 and 100% in April 2021. Collection efficiency (overall) is the amount collected (including arrears, advance collection and collections done in the closed accounts), as a percentage of the total amount due for collection in such month (including the due against gross NPAs).

Suryoday Small Finance Bank (SFB) is among the leading small finance bank in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in FY2020.

The SFB reported net loss of Rs 47.72 crore in Q1 June 2021 compared with net profit of Rs 26.58 crore in Q1 June 2020. Total income fell 0.84% to Rs 238.54 crore in Q1 June 2021 over Q1 June 2020.

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