Q4 2024 Suryoday Small Finance Bank Ltd Earnings Call Transcript
Key Points
- Gross advances increased by 41.5% year-on-year, reaching INR 8,650 crores in FY '24.
- Deposits grew by 50.5% to INR 7,777 crores in FY '24, with a CASA ratio improvement from 17.1% to 20.1%.
- Net interest income rose by 28.9% year-on-year to INR 962.2 crores.
- Gross nonperforming assets reduced to 2.8% from 3.1%, and net nonperforming assets decreased to 0.8% from 1.5%.
- The bank remains well-capitalized with a CRAR of 28.4%, significantly above the regulatory requirement.
- High concentration risk with 66% exposure to the top 3 states.
- Cost of funds increased from 6.7% in FY '23 to 7.3% in FY '24.
- Collection efficiency for Vikas Loan showed a marginal decline, indicating potential stress in collections.
- The bank's cost to income ratio, including CGFMU expenses, stood at 61.6%, indicating high operational costs.
- The bank's reliance on SLTRO financing, which will mature by December 2024, poses a challenge for cost management.
Ladies and gentlemen, good day, and welcome to Q4 FY '24 and FY '24 Earnings Conference Call of Suryoday Small Finance Bank Limited, hosted by PhillipCapital PCG [deck]. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Aman from PhillipCapital India Private Limited. Thank you, and over to you, sir.
Thank you, [Manoja] Good morning, everyone. On behalf of PhillipCapital Private Client Group, I welcome you all to the Q4 FY '24 and FY '24 earnings conference call of Suryoday Small Finance Bank Limited.
From the management we have Mr. Baskar Babu Ramachandran, Managing Director and CEO; Hemant Shah, Executive Director; Mr. Kanishka Chaudhary, Chief Financial Officer; and Mr. Himadri Das, Investor Relations.
I now hand over the conference to Mr. Ramachandran for his opening remarks, and we will then open the floor for the question-and-answer session. Over to you, Mr. Ramachandran.
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