Suryoday SFB declines after Q3 business update

Image
Capital Market
Last Updated : Jan 05 2023 | 2:04 PM IST

Suryoday Small Finance Bank slipped 2.01% to Rs 114.60 after the bank's CASA ratio declined to 13.9% as on 31 December 2022 as against 19.2% as on 31 December 2021.

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.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Great minds don’t just skim the surface, they uncover the full story.

Already subscribed? Log in

Subscribe to read the full story →

Smart Quarterly

₹900

3 Months

₹300/Months/month

SAVE 25%

Smart Essential

₹2700

1 Year

₹225/Months/month

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Unlimited access to all articles

  • 30+ premium stories daily, handpicked by our editor

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio

  • Wirecutter & The Athletic

Complimentary Access to Our e-Paper

  • Digital replica of our daily newspaper

  • Read, save, share any article

Curated Newsletters on Diverse Topics

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Smart Investment Tips

  • In-depth stock analysis & insights

  • The Smart Investor for wealth growth tips

Access to Extensive Historical Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading Experience

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Repository of articles and publications dating back to 1997

Save 25%

More From This Section

Gold price in Delhi today is ₹ 84,470, Click Here for other cities. Silver price in Delhi today is ₹ 84,470, Click Here for other cities.

First Published: Jan 05 2023 | 1:49 PM IST

Subscribe to read without limits
Subscribe Now
Next Story