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South Indian Bank reports Q2 net loss of Rs 187 crore on higher bad loans

The bank declared an operating profit of Rs 111.91 crore for the Q2 FY 22 as against Rs 390.94 crore for the Q2 FY21

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The GNPA for the Bank improved by 137 bps to 6.65 per cent as at September 30, 2021 compared to 8.02 per cent as at June 30, 2021.

BS Reporter Chennai

2 min read Last Updated : Oct 22 2021 | 4:44 AM IST

Kerala-based South Indian Bank (SIB) posted a net loss of Rs 187.06 crore during the second quarter (Q2) of the current financial year, as against a net profit of Rs 65.09 crore during the corresponding period of the previous year due to higher bad loans.

The bank declared an operating profit of Rs 111.91 crore for the Q2 FY 22 as against Rs 390.94 crore for the Q2 FY21. Murali Ramakrishnan, managing director and chief executive officer of the Bank, while announcing the results stated that the prevailing COVID Pandemic scenario in the country, impacted the growth in the Business

Topics : South Indian Bank Q2 results Bad loans

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