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Suryoday Small Finance Bank is a new age bank that went live on January 23rd, 2017. The main aim of forming a small finance bank is to bring the best banking solutions to the ‘banked’, ‘under-banked’, and the ‘un-banked’ sections of society. Today, Suryoday Small Finance is the leading Small finance bank in India with 3600 Crores of loan advances and ~3100 Crores of deposits. Suryoday Small Finance Bank will come up with an IPO soon as per RBI regulations.

Suryoday Small Finance Bank on 12.11.2020 has published its half-yearly results to the exchanges.

Results Analysis

1. The interest income for the first 6MFY21 increased to 420 Crores from 365 Crores last year. This shows a growth of 15% in the interest income.
2. To mitigate the risk of Covid-19, the Suryoday Small Finance Bank has kept 91 Crores for Provisions and contingencies. This is up by 20 Crores from last year.
3. PAT for the first 6MFY21 stands at 53 crores down from 83 Crores last year. This is mainly due to higher provisions and contingencies.
4. Suryoday Small Finance Bank has shown an EPS of 6.09 in the first half of FY21.
5. During the half-year ended September 30, 2020, the Bank issued 23,90,020 equity shares ruder private placement aggregating to 62.14 crores. This translates into a share value of 259 per share.
6. GNPA stands at 2.3% and NNPA at 0.35% as of 30.09.2020.
7. Capital Adequacy Ratio stands at 29.48%.
8. Net-Worth stands at Rs. 1187 Crores and no. of shares outstanding 8.912 Crores. So book value per share 133 per share.

COVID-19 Impact and Provisions

The Bank has made an additional provision of 47.99 crores (Retail banking 44,63 crores and Corporate banking 3.36 crores) for potential impact COVID-19 as of September 30, 2020. Further COVID provision of 65.99 crores (Retail banking { 57.43 crores and Corporate banking { 8.56 crores) was created as of March 31, 2020. Without COVID-19 provision segment result for Retail banking and Corporate would have been { 103.79 crores and { 2.72 crores for halfyear ended September 30, 2020, and t 2l 1.04 crores and { 4.07 crores for the year ended March 3 l, 2020 respectively.

Results Link

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