Suryoday Small Finance Bank on November 9 reported a net profit of Rs 50.30 crore, jumping by 284 percent from Rs 13 crore in the corresponding quarter last year. The lender’s gross-non performing asset (GNPA) stood at 2.9 percent from 9.9 percent last year. The net NPA of the lender was at 1.46 percent from 4.76 percent in the same period.
Net interest income stood at Rs 445 crore as compared to Rs 353 crore, an increase of 26.2 percent on a year on year basis. The bank's gross advances stood at Rs 6,921 crore in the first half of FY24 as compared to Rs 5,378 crores in the first half of FY23, an increase of 28.7 percent YoY.
The deposits of the bank stood at Rs 6,388 crore as compared to Rs 4,207 crore, growing by 52 percent and the share of retail deposits stood at 77.6 percent. Current account and savings account (CASA) ratio stood at 15.7 percent compared to 17.3 percent in the corresponding quarter last year.
Shares of the bank closed for trading on November 9 at Rs 167 a piece on BSE, up by 1.74 percent.
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