Suryoday Small Finance Bank in FY20 jump in profit 28% report

Suryoday Small Finance Bank (SSFB) reported a 28 per cent increase in FY20 net profit at Rs 111 crore against Rs 87 crore in FY19.

A break-up of the Bank’s results shows that 77 per cent of the net profit (or Rs 85 crore) came in the first half in FY21 vis-a-vis 45 per cent (or Rs 39 crore) in the year ago period.

Net interest income (difference between interest earned and interest expended) was up 45 per cent in FY21 at Rs 491 crore against Rs 339 crore in FY20. Other income rose 30 per cent to Rs 87 crore against Rs 67 crore.

Sandip Ginodia , Director

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