Latest news with #SuryodaySmallFinanceBank
Business Standard
04-07-2025
- Business
- Business Standard
Suryoday SFB gains as gross advances jump 20% YoY in Q1 FY26
Suryoday Small Finance Bank (SFB) added 2.68% to Rs 141.56 after the bank's gross advances increased 20% to to Rs 10,846 crore in Q1 FY26, as compared to Rs 9,037 crore posted in Q1 FY25. Sequentially, gross advances rose 6% to Rs 10,251 crore posted in Q4 FY25. Disbursements for Q1 FY26 stood at Rs 2,261 crore, up 30% YoY and 8% QoQ. The banks total deposits grew by 39% YoY and 7% QoQ to Rs 11,312 crore reported in Q1 FY26. Retail deposits increased 39% YoY and 8% QoQ to Rs 9,230 crore and bulk deposits stood at Rs 2,083 crore during the quarter, up 21% YoY and 4% QoQ. The bank's CASA (Current Account Savings Account) deposits stood at Rs 2,003 crore in Q1 FY26, registering a growth of 39% in YoY and down 9% YoY. The CASA ratio remained unchanged at 17.7% in Q1 FY26, compared to the same figure of 17.7% in Q1 FY25. However, it showed a decline from 20.9% posted in Q4 FY25. The CE - 1 EMI% stood at 94.1% in Q1 FY26, compared to 93.4% in Q1 FY25, and 98.8% in Q4 FY25. Meanwhile, the CE - Overall% was recorded at 97.1% in Q1 FY26, showing a decline from 99.7% in Q4 FY25, but still higher than 101.0% in Q1 FY25. The gross non-performing assets (GNPA) ratio stood at 8.5% in Q1 FY26, compared to 7.1% in Q4 FY25, reflecting a Q-o-Q increase. This was also higher than 2.7% recorded in Q1 FY25, indicating a Y-o-Y rise. As of June 2025, approximately 98% of the Inclusive Finance portfolio, which makes up around 48% of the Bank's Gross Advances, is covered under the CGFMU Scheme. The breakdown for Gross Non-Performing Assets (GNPA) as of June 30, 2025, shows a GNPA of Rs 927 crore, with Rs 804 crore covered under CGFMU. Of this, Rs 585 crore is claimable as per the CGFMU policy under various cohorts. In Q1 FY26, the bank received around Rs 56 crore, representing 100% of the claim made for the quarter. Additionally, the Bank's retail deposits grew by 44% Y-o-Y, while disbursements for the quarter rose by 30% Y-o-Y, reaching over Rs 2,200 crore. Suryoday Small Finance Bank is a leading Small Finance Bank(SFB) in India. The company started offering SFB services in 2017. They serve customers in the unbanked and underbanked segments. Before SBF, the company operated as an NBFC. The bank reported standalone net loss of Rs 33.78 crore in Q4 FY25 as against net profit of Rs 60.84 crore in Q4 FY24. Net sales rose 4.2% year on year to Rs 530.68 crore in Q4 FY25.
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Business Standard
04-07-2025
- Business
- Business Standard
Suryoday Small Finance Bank shares climb 5% on releasing Q1FY26 update
Suryoday Small Finance Bank share price jumped 5.1 per cent in trade, logging an intraday high at ₹145 per share. At 10:11 AM, Suryoday Small Finance shares were trading 3.01 per cent higher at ₹142.1 per share on the BSE. In comparison, the BSE Sensex was up 0.03 per cent at 83,265.05. The company's market capitalisation stood at ₹1,510.31 crore. Its 52-week high was at ₹205.5 per share and 52-week low was at ₹90 per share. Suryoday Small Finance Bank Q1FY26 update The buying on the counter came after the company released its Q1 business update. According to the filing, the small finance bank's total deposits for the quarter ended Jun 30, 2025, stood at ₹11,312 crore as compared to ₹8,137 crore a year ago, up 39 per cent. Its gross advances for the quarter under review stood at ₹10,846 crore as compared to ₹9,037 crore a year ago, up 20 per cent. On a sequential basis, the gross advances grew 6 per cent. The bank's disbursement year-on-year (Y-o-Y) grew 30 per cent to ₹2,261 crore as compared to ₹1,740 crore and on a quarter-on-quarter (Q-o-Q) basis, the disbursement grew 8 per cent. The current account savings account (CASA) for the quarter stood at ₹2,003 crore as compared to ₹1,439 crore a year ago, up 39 per cent. In Q4FY25, the CASA stood at ₹2,212 crore. In Q1FY26, the gross non-performing asset (GNPA) of the company stood at 8.5 per cent as compared to 7.1 per cent in Q4FY25 and 2.7 per cent in Q1FY25. Further, the Bank received an amount of approximately ₹56 crore in Q1 FY26, representing 100 per cent of the claim in that quarter. The bank's retail deposits registered a growth of 44 per cent Y-o-Y. Disbursements for the quarter grew by 30 per cent Y-o-Y, reaching over ₹2,200 crore. About Suryoday Small Finance Bank Suryoday Small Finance Bank offers a range of products including savings and current accounts, fixed and recurring deposits, as well as loans tailored for individuals, micro-businesses, and MSMEs. Its offerings are backed by robust digital infrastructure, including mobile and internet banking, UPI, and Aadhaar-enabled services.
Business Standard
27-06-2025
- Business
- Business Standard
Suryoday SFB re-appoints Baskar Ramachandran as MD & CEO for three years
Suryoday Small Finance Bank (SFB)'s board approved the re-appointment of Baskar Babu Ramachandran as managing director & chief executive officer (CEO) for the period of three years with effect from 23 January 2026 to 22 January 2029. Baskar Babu Ramachandran holds a bachelors degree in mechanical engineering from the University of Madras and a masters degree in business administration from Pondicherry University. He has participated in the management development programme for strategic management for corporate leadership conducted by Indian Institute of Management, Calcutta. He has several years of experience in the banking and finance sector. He was appointed as the MD and CEO of the bank with effect from 23 January 2017. His term renewed for three years from January 23, 2020 and subsequently extended for another three-year starting 23 January 2023. Suryoday Small Finance Bank offers a wide array of services to its customers, through its array of asset and liability products, via multiple delivery channels. The bank has a wide presence across 15 states and UTs across India through its 710 banking outlets, with a strong presence in Maharashtra, Tamil Nadu and Odisha. The company reported standalone net loss of Rs 33.78 crore in Q4 FY25 as compared with net profit of Rs 60.84 crore in Q4 FY24. Total income increased 4.2% YoY to Rs 530.68 crore in Q4 FY25. The counter declined 2.73% to end at Rs 137.40 on the BSE.
Economic Times
21-06-2025
- Business
- Economic Times
FD rate up to 8.8% for senior citizens investing for three years; Know the list of banks
ET Online Tenant eviction: After more than 10 years fight a landlord wins eviction case on ground of rebuilding of property; Know how There are still some banks who continue to offer up to 8.8% interest rate on fixed deposits (FD) made by senior citizens (age 60 years and above) for three year tenure and not exceeding Rs 3 crore. Read below to know the list of banks offering FD interest rate up to 8.8%. Bank FD interest rate for senior citizens FD rate up to 8.8% Suryoday Small Finance Bank is offering 8.8% interest rate on FD of three year tenure. FD rate up to 8.75% for senior citizens Utkarsh Small Finance Bank is offering 8.75% interest rate on FD for three year tenure for senior citizens. Bank Name FD rate Suryoday Small Finance Bank 8.8% Utkarsh Small Finance Bank 8.75% Unity Small Finance Bank 8.5% slice Small Finance Bank 8.25% Jana Small Finance Bank 8.25% Source: as of June 18, 2025 FD rate up to 8.5% Unity Small Finance Bank is offering up to 8.5% interest rate on FD for three year tenure. FD rate up to 8.25% slice Small Finance Bank is offering 8.25% interest rate on FD for three year tenure. Similarly, Jana Small Finance Bank is offering 8.25% interest rate on FD for three year tenure. Disclaimer: While deposits in small finance banks are insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) up to Rs 5 lakh, experts advise investors to exercise caution when investing in their FDs. Given their unique business model, the risk associated with investing in small finance bank FDs might differ slightly from that of scheduled commercial banks. To mitigate potential risks, it's recommended that investors limit their exposure to small finance bank FDs to an amount that falls within the DICGC coverage. This ensures that their principal and interest are protected in unforeseen circumstances. When is TDS deducted from bank FDs? TDS is required to be deducted by banks if the interest amount in an FD is above Rs 1 lakh in a particular bank. Do note that TDS is not any additional tax, you can get this tax back as a refund or adjust it with your total tax liability at the time of income tax return filing (ITR). Moreover, if you are eligible for a tax refund then you might be eligible for interest on tax instance, if a senior citizen's income is Rs 11 lakh then, it's not subject to income tax due to Section 87A tax rebate under the new tax regime for FY 2025-26. Section 87A tax rebate is available for up to Rs 12 lakh income level under the new tax a senior citizen can submit Form 15H to prevent TDS deduction if his total income after all deductions claim and Section 87A rebate is below the taxable limit like Rs 12 lakh for the new tax regime or Rs 5 lakh for the old tax the fact that no income tax is levied on such an income level (below Rs 12 lakh), banks and other financial institutions will still deduct TDS. This is because the law mandated them to deduct TDS once the interest/income amount crossed a particular threshold which was Rs 1 lakh for senior citizens. This happens because banks are not aware about tax liability and deduct TDS whenever the annual interest amount crosses Rs 1 lakh. So, can such a senior citizen file form 15H to avoid TDS on fixed deposits in such situations. N.R. Narayana Murthy Founder, Infosys Watch Now Harsh Mariwala Chairman & Founder, Marico Watch Now Adar Poonawalla CEO, Serum Institute of India Watch Now Ronnie Screwvala Chairperson & Co-founder, upGrad Watch Now Puneet Dalmia Managing Director, Dalmia Bharat group Watch Now Martin Schwenk Former President & CEO, Mercedes-Benz, Thailand Watch Now Nadir Godrej Managing Director, of Godrej Industries Watch Now Manu Jain Former- Global Vice President, Xiaomi Watch Now Nithin Kamath Founder, CEO, Zerodha Watch Now Anil Agarwal Executive Chairman, Vedanta Resources Watch Now Dr. Prathap C. Reddy Founder Chairman, Apollo Hospitals Watch Now Vikram Kirloskar Former Vice Chairman, Toyota Kirloskar Motor Watch Now Kiran Mazumdar Shaw Executive Chairperson, Biocon Limited Watch Now Shashi Kiran Shetty Chairman of Allcargo Logistics, ECU Worldwide and Gati Ltd Watch Now Samir K Modi Managing Director, Modi Enterprises Watch Now R Gopalakrishnan Former Director Tata Sons, Former Vice Chairman, HUL Watch Now Sanjiv Mehta Former Chairman / CEO, Hindustan Unilever Watch Now Dr Ajai Chowdhry Co-Founder, HCL, Chairman EPIC Foundation, Author, Just Aspire Watch Now Shiv Khera Author, Business Consultant, Motivational Speaker Watch Now Nakul Anand Executive Director, ITC Limited Watch Now RS Sodhi Former MD, Amul & President, Indian Dairy Association Watch Now Anil Rai Gupta Managing Director & Chairman, Havells Watch Now Zia Mody Co-Founder & Managing Partner, AZB & Partners Watch Now Arundhati Bhattacharya Chairperson & CEO, Salesforce India Watch Now
Time of India
21-06-2025
- Business
- Time of India
FD rate up to 8.8% for senior citizens investing for three years; Know the list of banks
Bank FD interest rate for senior citizens FD rate up to 8.8% FD rate up to 8.75% for senior citizens Academy Empower your mind, elevate your skills Bank Name FD rate Suryoday Small Finance Bank 8.8% Utkarsh Small Finance Bank 8.75% Unity Small Finance Bank 8.5% slice Small Finance Bank 8.25% Jana Small Finance Bank 8.25% FD rate up to 8.5% FD rate up to 8.25% When is TDS deducted from bank FDs? There are still some banks who continue to offer up to 8.8% interest rate on fixed deposits (FD) made by senior citizens (age 60 years and above) for three year tenure and not exceeding Rs 3 below to know the list of banks offering FD interest rate up to 8.8%. Suryoday Small Finance Bank is offering 8.8% interest rate on FD of three year tenure. Utkarsh Small Finance Bank is offering 8.75% interest rate on FD for three year tenure for senior as of June 18, 2025Unity Small Finance Bank is offering up to 8.5% interest rate on FD for three year Small Finance Bank is offering 8.25% interest rate on FD for three year Jana Small Finance Bank is offering 8.25% interest rate on FD for three year While deposits in small finance banks are insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) up to Rs 5 lakh, experts advise investors to exercise caution when investing in their FDs. Given their unique business model, the risk associated with investing in small finance bank FDs might differ slightly from that of scheduled commercial banks. To mitigate potential risks, it's recommended that investors limit their exposure to small finance bank FDs to an amount that falls within the DICGC coverage. This ensures that their principal and interest are protected in unforeseen is required to be deducted by banks if the interest amount in an FD is above Rs 1 lakh in a particular bank. Do note that TDS is not any additional tax, you can get this tax back as a refund or adjust it with your total tax liability at the time of income tax return filing (ITR). Moreover, if you are eligible for a tax refund then you might be eligible for interest on tax instance, if a senior citizen's income is Rs 11 lakh then, it's not subject to income tax due to Section 87A tax rebate under the new tax regime for FY 2025-26. Section 87A tax rebate is available for up to Rs 12 lakh income level under the new tax a senior citizen can submit Form 15H to prevent TDS deduction if his total income after all deductions claim and Section 87A rebate is below the taxable limit like Rs 12 lakh for the new tax regime or Rs 5 lakh for the old tax the fact that no income tax is levied on such an income level (below Rs 12 lakh), banks and other financial institutions will still deduct TDS. This is because the law mandated them to deduct TDS once the interest/income amount crossed a particular threshold which was Rs 1 lakh for senior citizens. This happens because banks are not aware about tax liability and deduct TDS whenever the annual interest amount crosses Rs 1 lakh. So, can such a senior citizen file form 15H to avoid TDS on fixed deposits in such situations.
