South India Bank

South Indian Bank Q1 results: PAT up 45% at Rs 294 cr on lower provisions

South Indian Bank on Thursday reported a 45.29 per cent jump in its June quarter net profit at Rs 294 crore, helped by lower provisions. The lender had posted a net profit of Rs 202 crore in the year-ago period, according to a statement. Its core net interest income grew 7 per cent to Rs 808 crore, on the back of a 11 per cent growth in overall advances and 0.08 per cent decline in the net interest margin at 3.26 per cent. The other income grew 16.8 per cent to Rs 422 crore. Overall deposits grew by 8.41 per cent to Rs 1.03 lakh crore. The provisions were lower by 43 per cent to Rs 113 crore, which helped the bank widen its profit growth. On the asset quality front, the proportion of gross non performing assets stood at 4.50 per cent as against the 5.13 per cent in the year-ago period. Its overall capital adequacy stood at 18.11 per cent as on June 30, 2024. The bank scrip closed 1.27 per cent down at Rs 26.50 apiece on the BSE, as against gains of 0.78 per cent on the benchmark

Our top priority is to continue focus on high-quality assets: P R Seshadri

The managing director (MD) and chief executive officer (CEO) of the Kerala-based South Indian Bank, Seshadri talks about his priorities, the bank's growth roadmap and third quarter numbers

South Indian Bank's move on tier-2 bond won't disrupt sector: Fitch

Lender decision to not redeem the bonds does not indicate any weakness in capital position, says ratings agency

Murali Ramakrishnan appointed as MD and CEO of South Indian Bank

The bank got the Reserve Bank of India's approval for the appointment for a period of three years with effect from October 1, 2020

South India Bank Q1 profit surges 46% to Rs 95 crore

Net NPAs also rose to 2.89%, from 1.21% at the end of June 2015