South Indian Bank profit up 197% at Rs 305 crore

The bank’s gross non-performing asset (NPA) fell to 4.74% from 5.48% recorded in the same quarter last year.
(Representational Photo)
(Representational Photo)

NEW DELHI: Kerala-based South Indian Bank on Thursday (Jan 18) reported a net profit of Rs 305.6 crore for the October-December quarter of 2023-24, making a 197.42% jump from Rs 102.75 crore in the year-ago period.

The bank’s gross non-performing asset (NPA) fell to 4.74% from 5.48% recorded in the same quarter last year.

Net NPA for the quarter stood at 1.6%, improving from 2.26% on a year-on-year basis. Shares of South Indian Bank increased nearly 1.06% up at `29.36 apiece on the BSE. P R Seshadri, MD & CEO of the bank, stated the strategy adopted by it continues to enable the business performance.

The bank registered growth in all the desired segments during the period with a focus on quality asset across all verticals corporate, SME, auto loan, credit card, personal loan, gold loan etc.

Related Stories

No stories found.
The New Indian Express
www.newindianexpress.com