Suryoday Small Finance Bank Ltd
Suryoday Small Finance Bank Ltd Company History
Suryoday Small Finance Bank is primarily engaged in extending micro credit to economically weaker women who are otherwise unable to access finance from the mainstream banking channels. The Bank broadly follows the Grameen model with suitable adaptations u
2008
Incorporation of Suryoday Micro Finance Private Limited, founded and promoted by Baskar Babu Ramachandran, Ganesh Rao and V. L. Ramakrishnan
2008
2009
Received RBI license for establishing an NBFC and commenced microfinance operations
Investment by Aavishkaar Goodwell India Micro Finance Development Company Limited in the Bank
2009
2012
Investment from HDFC Holdings Limited and HDFC Standard Life Insurance Company Limited in the Bank
2012
2013
Investment by Lok Capital II LLC in the Bank
2013
2014
Investment by IFC in the Bank
Received listing permission from BSE in wholesale debt segment to issue debt securities
2014
2015
We became a public limited company in June 2015
159 branches and 0.49 million customers as on March 31, 2015
Received in-principle approval from RBI to establish an SFB
Investment by DWM (International) Mauritius Ltd in the Bank
2015
2016
Received rating of Â[ICRA] A (-)Â for non-convertible debenture programmes from ICRA
Received RBI final Approval to commence its SFB operations
Investment by IDFC FIRST Bank Limited (previously known as IDFC Bank Limited), Polaris Banyan Holding Private Limited, ASK Pravi Capital Advisors Private Limited, Dr. Aravind Srinivasan and Kiran Vyapar Limited in the Bank
2016
2017
Commenced operations as an SFB in January 2017
Included in second schedule to the RBI Act
Investment by Evolvence India Fund II Ltd, ResponsAbility Participations Mauritius, Jhelum Investment Fund I, Gaja Capital Fund II Limited, TVS Shriram Growth Fund, and New Tech Investments Limited in the Bank
2017
2018
A new cluster of retail assets to provide finance for commercial vehicles, housing, MSME and loan against property upon initiating SFB operations
Received rating of Â[ICRA]A1Â for certificate of deposit programme from ICRA
2018
2019
Investments by DEG in the Bank
Received long-term rating of Â[ICRA] AÂ from ICRA and short-term rating of ÂA1+Â from CRISIL and short-term rating Â[ICRA] A1+Â from ICRA
2019
2020
Gross loan portfolio of ? 37,108.42 million with 477 branches and ~ 1.46 million customers as on March 31, 2020
Investments by Kotak Mahindra Life Insurance Company Limited and Teachers Insurance and Annuity Association of America in the Bank.
2020
