Suryoday Small Finance gross advances surge nearly 20 per cent; CASA ratio improves to 18.49 per cent

Collection efficiency (one EMI adjusted) improved to 86 per cent in the quarter ended September 30, 2021.   

Suryoday Small Finance Bank (Suryoday) is among the leading small finance banks (SFBs) in India. For over a decade, it has been helping India’s vast unbanked and underbanked segments to access financial solutions that enable them to realise their goals, stabilise their income and lead better lives. Having begun at the grassroots in 2009, it has rapidly scaled up across several states and union territories, where apart from our banking services, over 1,214 customer service points (CSPs) continue to keep us within the easy reach of the segments we serve.   

The bank has released an update with respect to its deposits, advances, and other information for the quarter ended September 30, 2021 (provisional).     

Gross advances shot up by 19.6 per cent YoY to Rs 4,471 crore as against Rs 3,737 crore in the quarter ended September 30, 2020. Disbursements for the quarter stood at Rs 1,061 crore, up by a staggering 194.4 per cent YoY. Total deposits stood at Rs 3,129, which saw a marginal decline of 0.3 per cent YoY. Bulk deposits have seen a massive drop of 59 per cent YoY while retail deposits saw a growth of 24.1 per cent YoY. CASA ratio improved to 18.49 per cent, up by 741 bps YoY.   

Collection efficiency (one EMI adjusted) improved to 86 per cent in the quarter ended September 30, 2021.   

Note: Collection efficiency (one EMI adjusted) is the amount collected and restricted to the demand of the month, as a percentage of the total amount due for collection in a such month (including dues against gross NPAs).