Suryoday SFB gains after advances rise 28% YoY in June22 quarter

12 Jul 2022 , 09:40 AM

Gross advances in Q1 FY22 aggregated to Rs 4,004 crore. Total deposits for Q1 FY23 amounted to Rs 4,020 crore, which is higher by 21% as compared with Rs 3,317 crore in Q1 FY22. As compared with Q4 FY22, the banks gross advances and total deposits are higher by 1% and 4%, respectively. CASA was at 21% in Q1 FY23 as against 16.2% in Q1 FY22 and 20.2% in Q4 F22. Total monthly collection efficiency was 89% in June 2022 as compared with 70% in June 2021 and 87% in March 2022. Collection efficiency (one EMI adjusted) is the amount collected restricted to the demand of the month, as a percentage of the total amount due for collection in such month (including dues against Gross NPAs). Suryoday Small Finance Bank (Suryoday SFB) is a scheduled commercial bank. The bank has a wide presence across 13 states and UTs across India through its 565 banking outlets, with a strong presence in Maharashtra, Tamil Nadu and Odisha. The SFB had reported a loss of Rs 63.6 crore in Q4 FY22 as against a net loss of Rs 58 crore in Q4 FY21. Net total income during the quarter increased by 136.4% to Rs 166.4 crore from Rs 70.4 crore reported in the same period last year. In the past three months, the stock has declined by 42.38% while the benchmark Sensex has lost 7.52% during the same period. Powered by Capital Market – Live News