Suryoday SFB share price slip over 3% after Q2 asset quality deteriorates

Suryoday SFB share price: Shares of private lender Suryoday Small Finance Bank  (Suryoday SFB) fell up to 3.43 per cent to hit an intraday low of Rs 168.45 per share on Friday, October 4, 2024. 

The fall in the share price of Suryoday SFB was triggered by weak asset quality in the September quarter (Q2FY25). Suryoday SFB’s gross non-performing assets (GNPA) stood at 2.92 per cent in the September quarter of financial year 2025 (Q2FY25), from 2.67 per cent in the previous quarter of the same fiscal year (Q1FY25).

GNPA stood at 2.86 per cent in the same quarter previous fiscal (Q2FY24).

Disbursements also fell 7 per cent on a quarter-on-quarter (Q-o-Q) basis to Rs 1,626 crore in the September quarter of FY25, from Rs 1,740 crore in the previous quarter of the same fiscal year (Q1FY25).

Overall, gross advances soared 4 per cent Q-o-Q to Rs 9,360 crore while total deposits grew 9 per cent during the same period to Rs 8,851 crore. 

Current account saving account (CASA) soared 10 per cent Q-o-Q to Rs 1,581 crore in Q2FY25, from Rs 1,439 crore in Q1FY25. Notably, CASA zoomed 57 per cent from Rs 1,004 crore in the same quarter last fiscal year (Q2FY24).

Suryoday SFB background

Suryoday Small Finance Bank Ltd is a small finance bank. The bank offers a diverse range of loan products, including commercial vehicle loans, microfinance loans, home loans, secured business loans, personal loans, micro mortgages, two-wheeler loans, and working capital loans for micro, small, and medium enterprises (MSMEs). It also provides merchant cash advances and small business loans.

Additionally, Suryoday SFB offers various accounts such as savings accounts, the Share Your Smile savings account, Next Gen savings account, salary savings accounts, and current accounts. Its term deposit offerings include domestic fixed deposits, tax-saving fixed deposits, and recurring deposits, along with options for non-resident fixed deposits and non-resident savings accounts.

The bank also provides life and general insurance products, as well as investment options like the national pension scheme. Furthermore, it supports social security initiatives, including the Atal Pension Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana.

Suryoday SFB share price history

Suryoday SFB share is down over 8 per cent in the past six months. However, the scrip is up over 8 per cent this year-to-date (Y-T-D).

The 52-week high of Suryoday SFB is Rs 219.55 per share while its 52-week low is Rs 142.85 per share. 

At 10:47 AM, Suryoday SFB shares were trading 2.87 per cent lower at Rs 169.50 per share. In comparison, BSE Sensex was trading 0.26 per cent higher at 82,708.94 levels.