Suryoday Small Finance Bank - IPO Note: Anand Rathi
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Anand Rathi Report
Suryoday Small Finance Bank Ltd. was incorporated on November 10, 2008.
SSFB is among the leading SFBs in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in Fiscal 2020.
SSFB commenced their microfinance operations in 2009 and have since expanded the operations across 13 states and union territories.
As of December 31, 2020, their customer base was 1.44 million and the employee base comprised of 4,770 employees and they operated 554 Banking Outlets including 153 Unbanked Rural Centres.
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