The bank has reported advances of Rs 8,650 crore for the quarter ended March FY24 (including inter bank participatory certificates (IBPC) of Rs 400 crore), growing 14 percent over the previous quarter and 41 percent over the year-ago period. Disbursements at Rs 2,340 crore increased by 31 percent QoQ and 39 percent YoY, while deposits grew by 20 percent QoQ and 50 percent YoY to Rs 7,775 crore for the quarter. The CASA ratio has improved by 1.6 percent QoQ and 3 percent YoY to 20.1 percent in Q4 FY24. The disbursements in FY24 of over Rs 6,900 crore increased by 36 percent compared to FY23 on continued momentum in Vikas Loan as well as retail assets disbursements.
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SURYODAY_09052024190035_SSFB_Intimation_in_relation_to_press_release_sd.pdf (452.1 KB)
Excellent results posted by SSFB for Q4
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while Q4 result is excellent. Company seems to be firing with all cylinder, but Pledged percentage 22.4 % , DII reducing stake is concerning.
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Ujjivan in its analyst day warned of sytem wise stress. Suryoday for long is guiding for 2% credit cost as new normal. Looks like next one year will be time correction for all MFI stocks till market adjust to their new credit cost. Their Yields already factor in high credit cost and Suryoday in particular has CGFMU cover too [credit insurance cover] so it should be well protected for credit cost beyond 3%. x.com
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Ujjivan small finance bank reported 1.7% credit cost
Great growth YoY, however, disbursement is down 26% QoQ.
Any views why this could be the reason or should wait for management commentary?
First quarter is generally slow for financial institutions, that may be the reason.
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