The private lender said that its gross advances jumped 11.35% to Rs 82,510 crore as of 30 June 2024 as against Rs 74,102 crore as of 30 June 2023.
The bank's gross advances rose 2.59% last quarter over Rs 80,426 crore as of 30 June 2024.
The bank's total deposits stood at Rs 1,03,534 crore as of 30 June 2024, recording a growth 8.41% year on year (YoY) and 1.58% quarter on quarter (QoQ).
CASA stood at Rs 32,998 crore as of 30 June 2024, up 5.88% YoY and rose 0.93% QoQ. CASA ratio declined 77 bps to 31.87% in Q1 FY25 from 32.64% in Q1 FY24 and 32.08% in Q4 FY24.
South Indian Bank provides retail and corporate banking, Para banking activities such as debit card, third party product distribution, in addition to treasury and foreign exchange business. As on 31 March 2024, the bank had a network of 955 branches and 1,188 ATMs across the country.
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The banks standalone net profit declined 13.88% to Rs 287.56 crore in Q4 FY24 as against Rs 333.89 crore recorded in Q4 FY23. Total income grew by 13.04% year on year to Rs 2,620.70 crore during the quarter.
Shares of South Indian Bank rose 0.55% to Rs 27.20 on the BSE.
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