M&A
Suryoday SFB sells Rs.81-Cr stressed loans to Edelweiss ARC
BSE Announcement Business Line Suryoday Small Finance Bank
Mumbai-based Suryoday Small Finance Bank (SSFB) has completed the sale of its stressed loan portfolio amounting to INR 80.59 crores to Edelweiss Asset Reconstruction Company Ltd (EARC). The sale proceeds of INR 31.43 crore comprises INR 6.29 crore in cash and INR 25.14 crore in the form of Security Receipts (SRs).Founded in 2008, Suryoday Small Finance Bank claims to provide affordable banking services focusing on inclusive finance and general banking.
Between May 2009 and May 2020, Suryoday small Finance Bank had attracted about USD 135 M from Aavishkaar Goodwell, CreditAccess Asia, Lok Capital, IFC, Developing World Markets, Americorp, Arpwood Partners, ASK Pravi, Gaja Capital, responsAbility and others.For FY24, Suryoday Small Finance Bank had reported about INR 1,589 Cr in Operating Income and about INR 216 Cr in PAT.
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