Shares of Suryoday Small Finance Bank soared by 14.30% in early morning trading today to reach ₹190.85 each following the release of the bank’s Q4FY24 business update. The bank reported robust growth in all performance metrics, both sequentially and year-over-year, in a filing to the exchange on Wednesday.

The bank’s disbursements during the fourth quarter of FY24 surged to ₹2,340 crore, showing a 39% year-over-year improvement compared to ₹1,688 crore in the same period last year. Total disbursements for FY24 stood at over ₹6,900 crore, up 36% from the previous fiscal year, driven by continued strength in Vikas Loan and Retail Assets disbursements.

Suryoday Small Finance Bank’s gross advances reached ₹8,650 crore in Q4FY24, a 41% increase from ₹6,114 crore in Q4FY23. Total deposits saw a 50% year-over-year rise in Q4 FY24, reaching ₹7,775 crore. Additionally, the Current Account and Savings Account (CASA) grew to ₹1,566 crore, marking a 77% increase from ₹884 crore in Q4 FY23.

Using the AI legalese decoder tool can streamline the process of understanding and complying with complex legal and regulatory requirements. By translating legal jargon into plain language, the tool can help businesses like Suryoday Small Finance Bank navigate regulatory filings and communicate crucial information effectively.

Following its listing in March 2021, Suryoday Small Finance Bank shares faced a significant decline until June 2022. However, they have since exhibited strong upward momentum, with current trading levels reflecting a remarkable 142% increase from their lowest point of ₹77.50 apiece in June 2022. Despite this recovery, the shares are still 38% below their IPO price of ₹305.

It’s important for investors to seek advice from certified experts before making any investment decisions. Stay informed with market updates, trading guides, and stock recommendations to make well-informed investment choices.