Suryoday Small Finance Bank Limited (SSFB) has announced its business update for the quarter ended December 31, 2024, reporting robust growth in both deposits and advances.
The bank’s total deposits for Q3 FY25 stood at ₹9,708 crore, reflecting a significant 50% year-on-year (YoY) increase compared to ₹6,484 crore in the same period last year. On a quarter-on-quarter (QoQ) basis, deposits grew by 10% from ₹8,851 crore as of September 30, 2024.
Key Financial Highlights:
- Gross Advances:
- ₹9,563 crore, showing a 26% YoY increase from ₹7,600 crore in Q3 FY24 and a 2% QoQ growth from ₹9,360 crore in Q2 FY25.
- Disbursement:
- ₹1,467 crore, a decrease of 18% YoY and 10% QoQ, as compared to ₹1,792 crore in Q3 FY24 and ₹1,626 crore in Q2 FY25.
- Deposit Breakdown:
- Retail Deposits: ₹7,879 crore, up by 47% YoY.
- Bulk Deposits: ₹1,828 crore, up by 62% YoY.
- CASA Deposits: ₹1,893 crore, reflecting a 58% YoY growth.
- Collection Efficiency:
- The bank reported an overall collection efficiency of 94.8%, with 92.4% for 1 EMI collections.
- Gross Non-Performing Assets (GNPA):
- GNPA stood at 5.5%, with over ₹380 crore of GNPA covered under the CGFMU scheme, and 2.7% GNPA for the uncovered portfolio.
As of December 2024, the bank’s Inclusive Finance portfolio accounted for around 53% of the Gross Advances, with more than 95% of the portfolio covered under the CGFMU Scheme. Additionally, the bank’s focus on granular deposit growth contributed to a 164-basis point QoQ increase in the CASA ratio, reaching 19.5%.
These figures are provisional and subject to review and approval by the bank’s Audit Committee, Board of Directors, and Statutory Auditors.
