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Entity-Specific Rating Rationales

17 Mar 2026

Suryoday Small Finance Bank Limited: Ratings reaffirmed

Suryoday Small Finance Bank Limited: Ratings reaffirmed

13 Jan 2026

Suryoday Small Finance Bank Limited: Ratings confirmed as final for instruments backed by vehicle loans receivable issued by Camion 03 2025

Suryoday Small Finance Bank Limited: Ratings confirmed as final for instruments backed by vehicle loans receivable issued by Camion 03 2025

24 Dec 2025

Suryoday Small Finance Bank Limited: Ratings withdrawn for instruments issued under an unsecured loans securitisation transaction

Suryoday Small Finance Bank Limited: Ratings withdrawn for instruments issued under an unsecured loans securitisation transaction

03 Oct 2025

Suryoday Small Finance Bank Limited: Provisional [ICRA]AA+(SO) assigned to SN Series A1 and Provisional [ICRA]A(SO) assigned to Equity Tranche issued by Camion 03 2025, backed by a pool of vehicle loans receivable

Suryoday Small Finance Bank Limited: Provisional [ICRA]AA+(SO) assigned to SN Series A1 and Provisional [ICRA]A(SO) assigned to Equity Tranche issued by Camion 03 2025, backed by a pool of vehicle loans receivable

29 Sep 2025

Suryoday Small Finance Bank Limited: Ratings withdrawn for instruments issued under a vehicle loans securitisation transaction

Suryoday Small Finance Bank Limited: Ratings withdrawn for instruments issued under a vehicle loans securitisation transaction

07 May 2025

Suryoday Small Finance Bank Limited: Provisional [ICRA]AA+(SO) assigned to SN Series A1 and Provisional [ICRA]A(SO) assigned to Equity Tranche issued by Camion 03 2025, backed by a pool of vehicle loans receivables

Suryoday Small Finance Bank Limited: Provisional [ICRA]AA+(SO) assigned to SN Series A1 and Provisional [ICRA]A(SO) assigned to Equity Tranche issued by Camion 03 2025, backed by a pool of vehicle loans receivables

29 Apr 2025

Suryoday Small Finance Bank Limited: Ratings upgraded for PTCs issued under an unsecured loans securitisation transaction

Suryoday Small Finance Bank Limited: Ratings upgraded for PTCs issued under an unsecured loans securitisation transaction

18 Mar 2025

Suryoday Small Finance Bank Limited: Ratings reaffirmed

Suryoday Small Finance Bank Limited: Ratings reaffirmed

16 Jul 2024

Suryoday Small Finance Bank Limited: Ratings confirmed as final for PTCs backed by unsecured loan receivables issued by Saryu 03 2024

Suryoday Small Finance Bank Limited: Ratings confirmed as final for PTCs backed by unsecured loan receivables issued by Saryu 03 2024

08 Apr 2024

Suryoday Small Finance Bank Limited: Provisional [ICRA]AA-(SO) assigned to Series A1 PTC and Provisional [ICRA]A+(SO) assigned to Series A2 PTC backed by unsecured loan receivables issued by Saryu 03 2024

Suryoday Small Finance Bank Limited: Provisional [ICRA]AA-(SO) assigned to Series A1 PTC and Provisional [ICRA]A+(SO) assigned to Series A2 PTC backed by unsecured loan receivables issued by Saryu 03 2024


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Entity-Specific Credit Perspective Reports

16 Apr 2026

Suryoday Small Finance Bank Limited

Suryoday Small Finance Bank Limited (Non-SF)

07 Oct 2025

Suryoday Small Finance Bank Limited

Suryoday Small Finance Bank Limited (SF)

07 May 2025

Suryoday Small Finance Bank Limited

Suryoday Small Finance Bank Limited (SF)

21 Apr 2025

Suryoday Small Finance Bank Limited

Suryoday Small Finance Bank Limited (Non-SF)

19 Apr 2024

Suryoday Small Finance Bank Limited

Suryoday Small Finance Bank Limited (Non-SF)

10 Apr 2024

Suryoday Small Finance Bank Limited

Suryoday Small Finance Bank Limited (SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Certificate of Deposit [ICRA]A1+ -- -- --
Subordinated bonds/debt -- -- [ICRA]A(Stable) --
SN Series A1 -- -- [ICRA]AA+(SO) --
Equity tranche -- -- [ICRA]A(SO) --
Series A1 PTC -- -- Withdrawn --
Series A2 PTC -- -- Withdrawn --
SN Series A1 -- -- Withdrawn --
Equity tranche -- -- Withdrawn --
Non-Convertible Debenture -- -- * --
Fixed Deposit Programme -- -- Withdrawn --

Our Analysts

Analyst 1

Chandni

Analyst 2

Prateek Mittal

Sector Head

Karthik Srinivasan
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