South Indian Bank (SIB) has clocked 15.8 per cent increase in net profit at Rs 62.46 crore in the third quarter of the current financial year against Rs 54.20 crore in the corresponding quarter last year. Profit before tax increased to Rs 98.74 crore against Rs 82.37 crore last year.
The bank’s total income has risen to Rs 530.91 crore, including an interest income of Rs 487.79 crore and other income of Rs 43.12 crore, against Rs 487.38 crore in the same period last year. Total expenditure jumped to Rs 412.71 crore against Rs 387.19 crore. The lender’s net non-performing assets remained little changed at 0.39 per cent as last year.
Total deposits rose 25.55 per cent to Rs 20,643.23 crore and advances went up 31.11 per cent to Rs 14,868 crore.