Suryoday Small Finance Bank (SFB) reported its Q2 FY25 performance with key metrics indicating a mixed quarter. The bank’s gross advances grew 4% quarter-on-quarter to ₹9,360 crore, up from ₹9,037 crore in Q1 FY25, marking a significant 35% increase year-on-year.
However, disbursements in Q2 FY25 dropped by 7% compared to the previous quarter, standing at ₹1,626 crore against ₹1,740 crore in Q1 FY25. Despite this decline, disbursements grew 2% year-on-year from ₹1,598 crore in Q2 FY24.
Total deposits saw a rise of 9% quarter-on-quarter, reaching ₹8,851 crore in Q2 FY25. Breaking down the deposit growth, retail deposits increased by 11% QoQ to ₹7,100 crore, and bulk deposits saw a modest 2% rise to ₹1,751 crore. The bank’s Current Account Savings Account (CASA) balance stood at ₹1,581 crore, with a growth of 10% quarter-on-quarter and a notable 57% increase year-on-year. The CASA ratio, which indicates the proportion of deposits in savings and current accounts, improved slightly to 17.9%.
One key concern is the gross non-performing assets (GNPA), which increased to 2.92% in Q2 FY25 from 2.67% in Q1 FY25. This reflects a rise in asset quality pressure, even though the GNPA remains fairly steady compared to 2.86% in Q2 FY24.
The management noted a strong performance across all key metrics on a year-on-year basis. Additionally, the Inclusive Finance portfolio constitutes around 56% of the gross advances, with over 95% covered under the CGFMU scheme. The bank is also focusing on building a strong retail deposit franchise and aims to achieve a Credit-to-Deposit (CD) ratio of 100% by March 2025.
These figures are provisional and unaudited, subject to further review and approval by the bank’s Audit Committee and Board of Directors.
Shares of Suryoday SFB reflected the news, trading down by 2.76% at ₹169.60.
