Suryoday Small Finance Bank Limited (SSFB) has reported significant growth across key financial parameters in Q2 FY25. The bank’s gross advances saw a year-on-year increase of 35%, reaching INR 9,360 crore as compared to INR 6,921 crore in the previous year. Disbursements for the quarter stood at INR 1,626 crore, reflecting a 2% YoY growth.
Total deposits experienced a 39% YoY surge to INR 8,851 crore, with retail deposits showing a remarkable increase of 43% to INR 7,100 crore. Bulk deposits rose by 22% to INR 1,751 crore. The bank’s Current Account Savings Account (CASA) grew by 57% YoY, with the CASA ratio improving by 214 basis points to stand at 17.9%. The bank aims to achieve a Credit-Deposit (CD) ratio of 100% by March 2025, focusing on growing its deposit base faster than its advances.
The collection efficiency for Q2 FY25 was noted at 98.4%, and the Gross Non-Performing Asset (GNPA) ratio stood at 2.92%. The figures provided are provisional and unaudited, subject to review by the Audit Committee, Board of Directors, and a limited review by statutory auditors.
The bank’s inclusive finance portfolio makes up approximately 56% of its gross advances, with over 95% of this covered under the Credit Guarantee Fund for Micro Units (CGFMU) scheme. Suryoday Small Finance Bank continues to emphasize building a robust retail deposit franchise and foresees sustained growth across its business segments.
