Mumbai, May 19
Suryoday Small Finance Bank (SSFB) slipped into the red, reporting a net loss of ₹48.12 crore in the fourth quarter of FY22 against a net profit of ₹4.72 crore in the preceding quarter, amid asset quality pressures and increased provisioning.
SSFB had reported a net loss of ₹43 crore in the year ago quarter.
In the financial year ended March 31, 2022, the bank reported a net loss of ₹93.03 crore against a net profit of ₹11.86 crore in FY21.
NII jumps
Net interest income jumped 156 per cent in the quarter at ₹146.42 crore (₹57.21 crore in the year ago quarter).
Other income rose 52 per cent yoy to ₹19.97 crore (₹13.17 crore).
Provisions (other than tax) & contingencies soared 258 per cent to ₹112.07 crore (₹31.33 crore).
The bank has made an additional provision of 15 per cent on the “non-performing restructured” loans as at March-end 2022, amounting to ₹46 crore.
Write-back in tax expenses was at ₹15.51 crore against ₹14.95 crore in the year ago period.
NPAs rise
Gross non-performing assets (NPAs) rose to 11.80 per cent of gross advances as at March-end 2022 against 10.48 per cent as at December-end 2021.
Net NPAs were up by 40 basis points to 5.97 per cent of net advances as at March-end 2022 against 5.57 per cent as at December-end 2021.
Deposits were up 18 per cent yoy and stood at ₹3,849.80 crore as at March-end 2022. Advances rose 19 per cent yoy and stood at₹4,750.88 crore.