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Momentum in CASA slow but steady: Suryoday Small Finance Bank

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Momentum in CASA slow but steady: Suryoday Small Finance Bank

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It's a busy week for the primary markets and among the issues opening today is the nearly Rs 600 crore Suryoday Small Finance Bank IPO. Baskar Babu Ramachandran, MD & CEO of the company spoke to CNBC-TV18.

It's a busy week for the primary markets and among the issues opening today is the nearly Rs 600 crore Suryoday Small Finance Bank IPO.

Talking about growth NPAs, Baskar Babu Ramachandran, MD & CEO of the company, said, "There has been pretty good traction in terms of granular term deposits. As far as CASA is concerned, specifically saving accounts it will be granular. We are focusing on retail granular ones. We are seeing the momentum from 11 percent to 13.50 percent currently when we speak. The momentum, however, has been slow and steady.”
On term deposits, Ramachandran said, “The good news is in terms of traction in term deposits has been much more than what we really require to absorb. Deposits are growing approximately closer to around Rs 100 crore every month.”
He further said he expects CASA to be granular going ahead and expects the cost-to-income ratio to remain under 50 percent.
For full management commentary, watch the video
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