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Thrissur-based South Indian Bank, which has a network of 753 branches across the country, has registered a net profit of Rs 115 crore in the first quarter of the current fiscal.
The bank carried out total business of Rs 75,123 crore against Rs 64,502 crore in the corresponding period last year, a statement from the bank said. Its net profit is down by 6.66 per cent compared with the first quarter of last year.
The deposits grew to Rs 43,584 crore from last year’s Rs 37,153 crore, while advances rose to Rs 31,539 crore from Rs 27,349 crore. The bank’s net non-performing assets have increased from 0.35 per cent to 1.12 per cent. South Indian Bank’s Managing Director and Chief Executive Officer, V.A. Joseph, said the performance of the bank was despite the ‘subdued growth of the economy’ during the period.
Source: thehindubusinessline
The bank carried out total business of Rs 75,123 crore against Rs 64,502 crore in the corresponding period last year, a statement from the bank said. Its net profit is down by 6.66 per cent compared with the first quarter of last year.
The deposits grew to Rs 43,584 crore from last year’s Rs 37,153 crore, while advances rose to Rs 31,539 crore from Rs 27,349 crore. The bank’s net non-performing assets have increased from 0.35 per cent to 1.12 per cent. South Indian Bank’s Managing Director and Chief Executive Officer, V.A. Joseph, said the performance of the bank was despite the ‘subdued growth of the economy’ during the period.
Source: thehindubusinessline
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