Suryoday Small Finance Bank deposits up 48%, gross loans up 11%

Suryoday Small Finance Bank deposits up 48%, gross loans up 11%

Net NPA ratio also improved to 2.35% as on Dec 31 from 4.8% as of Sep 30

FPJ Web DeskUpdated: Thursday, January 05, 2023, 05:06 PM IST
article-image
Suryoday Small Finance Bank deposits up 48%, gross loans up 11% | Image credit: Suryoday Small Finance Bank (Representative)

Suryoday Small Finance Bank reported a 48% on-year increase in deposits at 46.84 bln rupees as on December 31, and an 11% increase in gross advances to 54.09 bln rupees, according to the report filed at the exchanges today.

On a quarter-on-quarter basis, advances and deposits rose 1% and 11%, respectively.

Disbursements at the small finance bank increased by 13% year on year to 12.65 billion rupees as of December 31.

Gross non-performing asset ratio improved to 4.26% as on Dec 31 from 9.9% as of Sep 30. Net NPA ratio also improved to 2.35% as on Dec 31 from 4.8% as of Sep 30.

According to a notice from the bank, in December it sold a pool of stressed assets totaling 4.92 billion rupees—of which 640 million rupees were formally written off accounts—that included NPAs. The purchase price was 1.35 billion rupees.

The small financing bank's collection efficiency increased from 94.6% in July to September to 110.4% in December.

RECENT STORIES

FlowerAura Redefines Flower Gifting: Celebrating Life’s Small Moments

FlowerAura Redefines Flower Gifting: Celebrating Life’s Small Moments

Innovative Application Logging: Reducing Downtime With Automation

Innovative Application Logging: Reducing Downtime With Automation

Harnessing Machine Learning For Accurate Credit Assessments: Sree Sandhya Kona’s Innovative...

Harnessing Machine Learning For Accurate Credit Assessments: Sree Sandhya Kona’s Innovative...

Hinduja Tech To Acquire Tecosim Group for 21 Million Euros

Hinduja Tech To Acquire Tecosim Group for 21 Million Euros

Feature-Packed: Samsung Galaxy M35 5G Launched in India

Feature-Packed: Samsung Galaxy M35 5G Launched in India