Key Points
Shares of Suryoday Small Finance Bank jumped up 14.30% in today's early morning deals to reach 190.85 apiece following the release of the bank's Q4FY24 business update..
In a filing to the exchange on Wednesday, the bank said it witnessed robust growth in all performance parameters, both sequentially and on a year-over-year basis..
The bank's disbursements during the fourth quarter of FY24 jumped to 2,340 crore, a 39% YoY improvement compared to 1,688 crore in the same period last year, while the disbursements of the bank in FY24 stood at over 6,900 crore as compared to 5,083 crore in FY23, a 36% YoY rise, on the back of continued momentum in Vikas Loan as well as Retail Assets disbursements..
The bank's gross advances showed healthy growth, reaching 8,650 crore in Q4FY24, an increase of 41% compared to Q4FY23 gross advances of 6,114 crore..
The CASA ratio has improved by 1.6% [from 18.5% to 20.1%], and retail deposits grew by 800 crores on a QoQ basis," said Suryoday Small Finance Bank in its regulatory filing..
