Suryoday Small Finance Bank Ltd is a leading Small Finance Bank (SFB) in India, originally incorporated in 2008 and started offering SFB services in 2017. Before becoming a small finance bank, the company operated as an NBFC. The bank commenced microfinance operations in 2009 and has since expanded operations across 15 states and union territories, with a customer base of approximately 3.4 million, 8,649 employees, and 710 banking outlets.
The bank's primary focus is on serving the economically disadvantaged sections of society, particularly in rural and semi-urban areas. Suryoday Small Finance Bank was converted from a micro finance institution having served over a million customers since 2009. They serve customers in the unbanked and underbanked segments.
Suryoday Small Finance Bank provides easy and affordable banking services with a wide range of banking products and services like Savings Accounts, Loans, Debit Cards, Insurance, Investments, and more to fulfil all banking needs. The bank operates through multiple segments including Treasury, Retail Banking, Corporate Banking/Wholesale, and Other Banking Operations, with maximum revenue generated from the Retail banking segment.
The bank primarily provides microcredit to financially disadvantaged women using the Joint Liability Groups model and also offers affordable home loans, commercial vehicle finance and SME NBFC funding. The bank offers services, including savings and current accounts, term deposits, loans, and investment and insurance products. It primarily serves the underserved and unserved sectors of the economy, offering both traditional and digital banking solutions.
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 number of banking outlets increased from 577 in March 31, 2023 to 695 in March 31, 2024 including 194 Unbanked Rural Centres.
The bank's financial performance has shown mixed results in recent quarters. Suryoday Small Finance Bank reported a standalone net loss of Rs 33.78 crore for the March 2025 quarter, compared to a profit of Rs 60.84 crore in the previous quarter. However, total operating income rose 5.83% to Rs 470.58 crore, and annual operating income increased by 22.98% to Rs 1953.75 crore for the year ending March 2025.
For the full year ended March 2025, net profit declined 46.76% to Rs 114.97 crore as against Rs 215.96 crore during the previous year ended March 2024. Total Operating Income rose 22.98% to Rs 1953.75 crore as against Rs 1588.70 crore during the previous year ended March 2024.
- Q1 FY26 Advances: ₹10,846 crore (+20% YoY)
- Q1 FY26 Deposits: ₹11,312 crore (+39% YoY)
- Deposits (as of September 2024): Rs 8,851 crore (+38.6% YoY)
- CASA Ratio (as of September 2024): 17.9% (up from 15.7% in Sept 2023)
- GNPA: 8.5%
- CGFMU Claim Received: ₹56 crore
- Capital Adequacy Ratio: 24.9% (Tier I capital at 23.5%, Tier II capital at 1.4%)
- Market Capitalization: ₹1,485 crore (as of July 2025)
- Revenue (FY2025): ₹1,954 crore
- Profit (FY2025): ₹115 crore
- PE Ratio (as of July 2025): 12.65
- PB Ratio (as of July 2025): 0.75
The bank's stock has shown volatility. The 52-week high share price is Rs 212.00 and 52-week low share price is Rs 90.00. In the last 1 month, the share price moved up by 12.04% on BSE, last 3 months saw an increase of 36.24%, while last 12 months showed a decline of 31.95%. Promoter holding in Suryoday Small Finance Bank Ltd has gone up to 22.44 per cent as of Mar 2025 from 22.39 per cent as of Jun 2024.
- IPO and Listing: On 26 March 2021, the Bank launched its Initial Public Offer and got listed on the National Stock Exchange and BSE Limited.
- Capital Raising: In FY2017, it raised Rs 289.27 crore. During FY2020, it raised Rs 63 crore and Rs 100 crore in FY2021 through private placement and unsecured subordinated nonconvertible debentures respectively.
- Awards and Recognition:
- Recognized as the 'Top Performing Small Finance Bank' under the Annual Credit Plan for the Financial Year 2024-25.
- Received recognition at the Infosys Finacle Innovation Awards 2025 as Ecosystem-Led Innovation—Platinum Winner for driving digital transformation to modernize new-age banking.
Baskar Babu Ramachandran, who holds a bachelor's degree in mechanical engineering from the University of Madras and a master's degree in business administration from Pondicherry University, serves as the MD & CEO of Suryoday Small Finance Bank.
The bank continues to focus on financial inclusion and serving the underbanked population while expanding its digital banking capabilities and geographical reach across India.
