Suryoday Small Finance Bank Limited, initially founded as Suryoday Micro Finance Private Limited in Chennai in 2008, transitioned into a public company in 2015 and became a small finance bank (SFB) in 2017. With a strong presence in Maharashtra, Tamil Nadu, and Odisha, it operates 695 banking outlets across 13 Indian states and union territories, including 194 Unbanked Rural Centres. The bank primarily focuses on providing microcredit to economically disadvantaged women, with additional services including mortgage loans, commercial vehicle financing, and loans for micro, small, and medium enterprises (MSMEs), as well as non-banking finance companies (NBFCs).
Over the years, Suryoday Small Finance Bank has expanded its portfolio by introducing products like affordable housing loans, secured business loans, and two-wheeler financing. The Gross Loan Portfolio reached Rs 3,742 crore, with significant growth in deposits and assets under management. The bank has actively raised capital through equity shares, rights issues, and initial public offerings to support its growth and maintain a robust capital adequacy ratio. Suryoday is rated A1+ by CRISIL and ICRA, underscoring its strong financial stability.
