Fri Oct 04 04:57:00 UTC 2024: ## Suryoday Small Finance Bank Reports Strong Growth in Deposits and Advances

**Mumbai, October 4, 2024:** Suryoday Small Finance Bank (SFB) has reported a strong performance in the second quarter of fiscal year 2025 (Q2 FY25), with significant growth in both deposits and advances.

**Key Highlights:**

* **Gross advances:** Increased by 35% year-on-year (YoY) to Rs 9,360 crore in Q2 FY25, up from Rs 6,921 crore in Q2 FY24.
* **Disbursements:** Stood at Rs 1,626 crore in Q2 FY25, up 2% YoY but down 7% quarter-on-quarter (QoQ).
* **Total Deposits:** Grew by 39% YoY and 9% QoQ to Rs 8,851 crore in Q2 FY25.
* **CASA Deposits:** Increased by 10% QoQ and 57% YoY to Rs 1,581 crore in Q2 FY25.
* **CASA Ratio:** Improved to 17.9% in Q2 FY25, up from 17.7% in Q1 FY25 and 15.7% in Q2 FY24.
* **Gross NPAs:** Stood at 2.92% as on 30 September 2024, slightly higher than 2.67% on 30 June 2024 and 2.86% on 30 September 2023.

The bank is focused on building a strong retail deposit franchise and aims to achieve a 100% Current Account Savings Account (CASA) ratio by March 2025.

Suryoday SFB is a scheduled commercial bank with a presence across 15 states and UTs through its 577 banking outlets. The bank’s net profit surged by 56.4% to Rs 60.84 crore in Q4 FY24, while total income jumped by 40.2% YoY to Rs 509.36 crore.

Despite these positive developments, the bank’s share price fell by 3.21% to Rs 168.90 on the BSE.

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