Suryoday Small Finance Bank Ltd (SFB) on Monday (March 17) said its promoter, Managing Director and CEO, Baskar Babu Ramachandran, has purchased 1,50,000 equity shares from the open market.

“This is to inform you that the Bank has received an intimation today, i.e. Monday, 17 March 2025, from Mr Baskar Babu Ramachandran, the Promoter and Managing Director & CEO of the Bank, that he has purchased a total of 1,50,000 Equity shares from the open market,” Suryoday Small Finance Bank said in a regulatory filing.

Following the transaction, the total promoter group holding in the bank has increased to 22.44% from 22.30%, while Ramachandran’s individual stake has risen to 5.18% from 5.04%. The bank confirmed that the promoter shareholding remains in compliance with regulatory requirements and RBI-approved limits.

Also Read: Suryoday Small Finance Bank sees further deterioration in asset quality, slower loan growth in FY25

Q3 look back

For the third quarter, Suryoday Small Finance Bank posted a 41.8% decline in net profit for Q3 FY25. The profit stood at ₹33.3 crore, down from ₹57.2 crore in the same period last year. Despite the drop in net profit, the bank achieved a 9.2% growth in net interest income (NII).

NII rose to ₹268.3 crore compared to ₹245.7 crore year-on-year (YoY). However, the bank’s asset quality weakened during the quarter. Gross non-performing assets (GNPA) climbed to 5.53%, up from 3.03% in the previous quarter (QoQ). The profitability was impacted by a 31% rise in total expenditure, which climbed to ₹456 crore.

The bank’s gross advances grew 25.8% YoY to ₹9,563 crore as of December 2024, driven by expansion in secured loan segments such as vehicle loans and housing loans. However, the microfinance portfolio saw a 25% QoQ decline, attributed to stricter adherence to industry guidelines.

Deposits surged 49.7% YoY to ₹9,708 crore, with retail deposits comprising 81% of the total. The current and savings account (CASA) ratio remained modest at 19.5%.

Also Read: Suryoday SFB expects 30-35% asset growth, 40% growth in deposits in FY25

Shares of Suryoday Small Finance Bank Ltd ended at ₹98.90, down by ₹0.15, or 0.15%, on the BSE.