Microfinance Institutions company Suryoday Small Finance Bank announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Total income decreased by 9.2% YoY from Rs 335.5 crore to Rs 304.8 crore. Net interest income (NII) decreased by 9.6% YoY from Rs 270.8 crore to Rs 244.7 crore. Pre-provision operating profit (PPOP) decreased by 63.7% YoY from Rs 128.3 crore to Rs 46.6 crore. Cost of Funds stood at 8.1% in Q4FY25 as compared to 7.4% in Q4FY24. Cost to income stood at 84.7% in Q4FY25 as compared to 61.7% in Q4FY24. Profit After Tax (PAT) stood at Rs -33.8 crore in Q4FY25 as against Rs 60.8 crore in Q4FY24. FY25 Financial Highlights: Total income increased by 12.0% YoY from Rs 1,182 crore to Rs 1,323 crore. Net interest income (NII) increased by 15.0% YoY from Rs 962 crore to Rs 1,106 crore. Pre-provision operating profit (PPOP) decreased by 14.3% YoY from Rs 454 crore to Rs 389 crore. Cost of Funds stood at 7.8% in FY25 as compared to 7.3% in FY24. Cost to income stood at 70.6% in FY25 as compared to 61.6% in FY24. Profit After Tax (PAT) decreased by 46.8% YoY from Rs 216 crore to Rs 115 crore. Gross NPA stood at 7.2% as on March’25, compared to 2.8% as on March’24. Net NPA stood at 4.6% as on March’25, compared to 0.8% in March’24. GNPA - Rs 734 crore, NNPA - Rs 457 crore, against which Rs 460 crore is receivable under CGMFU scheme. Healthy capital position with a CRAR at 25.8%; Tier I capital of 24.5% and Tier II capital of 1.4%. Baskar Babu Ramachandran, MD & CEO, Suryoday Small Finance Bank, said: The bank has achieved the milestone of advances as well as deposits crossing Rs 10,000 crore with gross advances at Rs 10,251 crore and deposits at Rs 10,580 crore. Non-IF book now constitutes over 50% of the total advances. In respect of IF book, the bank continues to cover the entire eligible portfolio under the CGFMU scheme. The external scenario in the microfinance sector has had an impact on the bank’s performance during FY25 with GNPA increasing from 2.8% in March’24 to 7.2% in March’25. Of the gross NPA of Rs 734 crore bank is carrying a provision of Rs 276.8 crore including floating provision. The unprovided portion of GNPA stands at Rs 457 crore against which expected CGFMU receivable is Rs 460 crore. The retail asset franchise, particularly the mortgages and wheels business, have shown substantial growth in FY25, thereby tilting in favor of the non-IF portfolio as a proportion to the total advances now crossing 50%. On the deposit front, there has been 36% growth from Rs 7,777 crore to Rs 10,580 crore, primarily driven by the retail franchise with CASA ratio of 20.9% and the consistent acquisition of deposits through the digital channel. The slippages in the IF portfolio primarily due to the overall microfinance market scenario has impacted the Net Interest Income and the credit costs, thereby impacting the profitability of the bank for the quarter. The bank continues to diversify its portfolio which is visible in the growth in the mortgages and wheels segment portfolio. In addition, the bank has started focusing on the MSME segment and expects reasonable traction in this segment in the near future. Overall, for the bank, FY25 has had its share of challenges which is completely mitigated by CGFMU cover and also its share of opportunities which is focused growth in the secured assets business and deposit franchise. The various initiatives driven by the bank over the past few years such as investment in credit guarantee cover, focus on digital product offerings both on the deposits side as well as the advances front and the targeted focus on MSME business are expected to drive the bank into FY26 and forward. Result PDF
Suryoday Small Finance Bank announced Q3FY25 results Q3FY25 Financial Highlights: Net interest income (NII) increased by 9.2% YoY from Rs 245.7 crore to Rs 268.3 crore. Total income increased by 3.4% YoY from Rs 297.6 crore to Rs 307.8 crore. Pre-provision operating profit (PPOP) decreased by 37.5% Y-o-Y from Rs 114.2 crore to Rs 71.4 crore, mainly due to reduction in paying book. Cost of Funds stood at 7.8% in Q3FY25 as compared to 7.5% in Q3FY24. Cost to income stood at 76.8% in Q3FY25 as compared to 61.6% in Q3FY24. Profit After Tax (PAT) decreased by 41.8% YoY from Rs 57.2 crore to Rs 33.3 crore. Business Highlights: Gross Advances stood at Rs 9,563 crore as on December’24 as compared to Rs 7,600 crore as on December’23, an increase of 25.8% YoY. Disbursementsstood at Rs 1,467 crore in Q3FY25 as compared to Rs 1,792 crore in Q3FY24, decrease of 18.1% YoY. The Retail Assets (wheels and mortgages) disbursement showed an increase of 24% on a YoY basis, also Mortgages portfolio nearing Rs 2000 crore. The bank has implemented the MFIN guardrails 2.0, resulting in a 25% decline QoQ in IF business, yet a notable increase in secured business lending was observed. Deposits stood at Rs 9,708 crore as on December’24 as compared to Rs 6,484 crore as on December23, an increase of 49.7% YoY. Current bucket Collection Efficiency (1 EMI Cap) stood at 97.9% in Q3FY25. Collection Efficiency (1 EMI adjusted) stood at 90.6% in Q3FY25 as compared to 95.8% in Q3FY24. Baskar Babu Ramachandran, MD & CEO, Suryoday Small Finance Bank, said: The bank has witnessed a growth in its portfolio primarily on account of the growth in disbursements in the Retail Assets businesses i.e mortgages and wheels. The microfinance portfolio witnessed a nominal de-growth primarily due to the overall market scenario and voluntary implementation of MFIN guardrails 2.0. The bank as part of prudent risk management strategy, started covering the eligible unsecured loans under the CGFMU scheme, since FY23, thereby making these loans quasi-secured. This coverage was initiated considering the cyclicality that the sector faces. The deposit growth has outpaced the growth in assets with the digital deposit mobilization contributing to the growth. Several initiatives have been undertaken during the quarter: Digital deposits accelerated to Rs 2.5 crore per day. Introduction of “Double Joy Deposit” – a long term, guaranteed return deposit plan – one of the first in the banking space. Suo-moto implementation of MFIN guardrails 2.0. Launch of MSME loans – Dhanashree – predominantly digital. We are focused on improving the key metrics in our Inclusive Finance business with specific focus on collections and the current trends are encouraging. We are confident of delivering our revised guidance in the current quarter. Result PDF
Suryoday Small Finance Bank announced Q2FY25 & H1FY25 results Q2FY25 Financial Highlights: Total income increased by 27.4% YoY from Rs 272.8 crore to Rs 347.4 crore. Net interest income (NII) increased by 35.7% YoY from Rs 221.0 crore to Rs 300.0 crore. Pre-provision operating profit (PPOP) increased by 34.5% YoY from Rs 94.3 crore to Rs 126.9 crore. Cost of Funds stood at 7.6% in Q2FY25 as compared to 7.5% in Q2FY24. Cost to income stood at 63.5% in Q2FY25 as compared to 65.4% in Q2FY24. Profit After Tax (PAT) decreased by 9.8% YoY from Rs 50.3 crore to Rs 45.4 crore. Q2FY25 Business Highlights: Gross Advances stood at Rs. 9,360 crore in Q2FY25 as compared to Rs 6,921 crore in Q2FY24, an increase of 35.2% year on year. Disbursements stood at Rs. 1,682 crore in Q2FY25 as compared to Rs 1,598 crore in Q2FY24, an increase of 5.2% year on year. Disbursement continues to be stable across all segments supported by significant traction in wheels and mortgages segments. Deposits stood at Rs. 8851 crore in Q2FY25 as compared to Rs. 6387 crore in Q2FY24, an increase of 38.6% year on year. Current bucket Collection efficiency (overall) stood at 98.2% in Q2FY25 as compared to 99.1% in Q2FY24. Collection efficiency (1 EMI adjusted) stood at 93.1% in Q2FY25 as compared to 96.0% in Q2FY24. H1FY25 Financial Highlights: Total income increased by 29.6% YoY from Rs 548.5 crore to Rs 710.8 crore. Net interest income (NII) increased by 33.1% YoY from Rs 445.8 crore to Rs 593.2 crore. Pre-provision operating profit (PPOP) increased by 28.3% YoY from Rs 211.4 crore to Rs 271.2 crore. Cost of Funds stood at 7.6% in H1FY25 as compared to 7.2% in H2FY24. Cost to income stood at 61.8% in H1FY25 as compared to 61.5% in H1FY24. Profit After Tax (PAT) increased by 17.9% YoY from Rs 97.9 crore to Rs 115.5 crore. Gross NPA remains stable at 2.9% as on Sept’25, compared to Sept’24. Net NPA stood at 0.8% as on Sept’25, compared to 1.4% in Sept’24. Healthy capital position with a CRAR at 24.9%; Tier I capital of 23.5% and Tier II capital of 1.4% H1FY25 Business Highlights: Gross Advances stood at Rs 9,360 crore in H1FY25 as compared to Rs 6,921 crore in H1FY24, an increase of 35.2% year on year. Disbursements stood at Rs 3,421 crore in H1FY25 as compared to Rs 2,787 crore in H1FY24, an increase of 22.7% year on year. Disbursement continues to be strong across all segments supported by significant traction in Vikas Loans, wheels and mortgages segments. Vikas Loan disbursement stood at Rs 942 crore in H1FY25 as compared to Rs 787 crore in H1FY24, an increase of 19.6% year on year. Deposits stood at Rs. 8,851 crore in H1FY25 as compared to Rs. 6,387 crore in H1FY24, an increase of 38.6% year on year. Share of retail deposits stood at 80.2% in Sept’25, as compared to 77.6% in Sept’24. CASA ratio stood at 17.9% as on Sept’25, compared to 15.7% in Sept’24. Collection efficiency (1 EMI adjusted) stood at 93.9% in H1FY25 as compared to 96.0% in H1FY24. The Bank has ~32.4 lakh customers as on September’25, as compared to ~25.1 lakh customers in September’24, an increase of 29%. Baskar Babu Ramachandran, MD & CEO, Suryoday Small Finance Bank, said: “The bank delivers a reasonable steady performance in H1 FY25, driven by growth in advances and deposits. Vikas Loan saw steady growth, supported by strong traction in the wheels and mortgages segments. On deposit mobilisation side industry is facing competition and to tackle this challenge we have been constantly upgrading and innovating our product portfolio. We remain focused to improve our deposit base by gradually increasing share of retail deposits, as on September 2024 our retail deposits stood at 80.2% of the total deposits. Overall the industry is passing through a difficult phase of asset quality deterioration but we through our prudent underwriting and robust risk management were able to maintain healthy asset quality, our GNPA has remained stable to 2.9% in Q2FY25 and our NNPA which stood at 1.4% in Q2FY24 has improved to 0.8% in Q2FY25. The bank continues to cover its eligible unsecured portfolio under the CGFMU scheme to mitigate risks. We as an institution believe in digital innovation to cater to the changing needs of our customers. Our Inclusive Finance loan disbursement process is completely digital and paperless. On the deposits front, we have invested in digital banking infrastructure which helps us source digital deposits through various platforms. In parallel, we continue to focus on widening our reach by adding new branches each year across the country. During the quarter, we opened our very first retail banking branch in the Jaipur which signifies our commitment to expand the footprint in northern India. We have also opened Smart Banking Outlets (SBOs) in certain micro markets. These SBOs are customer touch points which offer all banking services but have a focused target segment within ~ 2 km radius. We remain committed to deliver better performance across all business performance parameters and going forward the bank will keep on investing in branches, people, and technology to serve the economy better. Result PDF
Suryoday Small Finance Bank announced Q1FY25 results: Financial Highlights: The Bank's gross advances stood at Rs 9,037 crore in Q1FY25 as compared to Rs 6,372 crore in Q1FY24, an increase of 41.8% YoY Disbursements stood at Rs 1,740 crore in Q1FY25 as compared to Rs 1,190 crore in Q1FY24, an increase of 46.3% YoY Disbursement continues to be strong across all segments supported by significant traction in Vikas Loans, wheels and home loan segments. Vikas Loan disbursement stood at Rs 513 crore in Q1FY25 as compared to Rs 213 crore in Q1FY24, an increase of 141.2% YoY Deposits stood at Rs 8,137 crore in Q1FY25 as compared to Rs 5,722 crore in Q1FY24, an increase of 42.2% YoY Share of retail deposits stood at 78.9% in June’24, as compared to 75.7% in June’23 CASA ratio stood at 17.7% as on June’24, compared to 14.9 % in June’23 Collection efficiency (1 EMI adjusted) stood at 94.8% in Q1FY25 as compared to 95.9% in Q1FY24 Collection efficiency excluding NPA (1 EMI adjusted) stood at 97.4% in Q1FY25 as compared to 98.2% in Q1FY24 The Bank has ~30.0 lakh customers as on June’24, as compared to ~24.3 lakh customers in June’23, an increase of 23.6% Total number of banking outlets stood at 701, with 115 being liability-focused outlets and 392 being asset focused branches and balance 194 are rural centers Total number of employees stood at 7,715 Net interest income stood at Rs 293.2 crore in Q1FY25 as compared to Rs 224.7 crore in Q1FY24, an increase of 30.5% YoY Net total income stood at Rs 363.4 crore in Q1FY25 as compared to Rs 275.7 crore in Q1FY24, an increase of 31.8% YoY Cost of Funds stood at 7.6% in Q1FY25 as compared to 7.0% in Q1FY24 Cost to income stood at 60.3% in Q1FY25 as compared to 57.5 % in Q1FY24. Pre-Provisioning Operating Profit stood at Rs 144.3 crore in Q1FY25 as compared to Rs 117.1 crore in Q1FY24, an increase of 23.2% YoY Gross NPA stood at 2.7% as on June’24, compared to 3.0% in June’23 Net NPA stood at 0.4% as on June’24, compared to 1.6% in June’23 Provision coverage ratio (excluding technical write-offs) stood at 83.9% as on June’24, compared to 47.3% in June’23 CRAR of the Bank stood at 27.3%; Tier I capital of 25.7% and Tier II capital of 1.6% Commenting on the performance, Baskar Babu, MD & CEO, Suryoday Small Finance Bank, said: “The bank has delivered a steady performance for the first quarter of FY25, driven by growth in advances and deposits, and stable asset quality. This performance is in line with the guidance provided by the bank for FY25. During this quarter, our gross advances grew by 41.8% YoY and 4.5% QoQ to Rs. 9,037 crore, and deposits grew by 42.2% YoY and 4.6% QoQ to Rs. 8,137 crore. The bank’s disbursements stood at Rs. 1,740 crore with growth across all segments. The Vikas Loan continued to grow at a decent pace and was supported by significant traction in the wheels and home loan segments. Asset quality has remained stable, with GNPA at 2.7% at the end of June 2024, down from 3.0% in June 2023 and 2.8% in March 2024. The bank has further increased PCR from 71.2% in March 2024 to 83.9% in June 2024. The NNPA stood at 0.4% at the end of June 2024, down from 1.6% in June 2023 and 0.8% in March 2024. The bank continues to cover the eligible unsecured portfolio under the CGFMU scheme to mitigate any unforeseen risks. Under this scheme, the bank has successfully made its first claim of ~ Rs. 32 crore which was 100% of the accounts which were eligible for claim and the entire amount was received in Q1FY25. Our focus on improving our deposit base is evident with reducing share of bulk deposits with retail deposits now constituting around 79% of the total deposits as on June 2024 and CASA now representing 17.7% of our overall deposits, up from 14.9% in June 2023. The deposits sourced through digital channels stood at ~ Rs. 100 crore as on June 2024. Currently the daily deposit run rate sourced through this channel stands at Rs. 1.5 to 2 crore. Net Interest Income (NII) grew by 30.5% YoY and 8.3% QoQ to Rs. 293.2 crore. We have effectively managed our operational efficiencies and are on track to achieve a favourable Cost to Income ratio of 57% to 58% by FY25. Our Cost to Income as of June 2024 stood at 60.3%. PreProvisioning Operating Profit (PPOP) grew by 23.2% YoY and 12.4% QoQ to Rs. 144.3 crore, while Profit After Tax (PAT) grew by 47.2% YoY and 15.1% QoQ to Rs. 70.1 crore. As we move forward, we are confident in our ability to sustain this momentum and explore new opportunities to further strengthen our position in the banking ecosystem. We are on track to achieve our stated guidance for FY25.” Result PDF