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South Indian Bank drops as gross NPA ratio rises

Capital Market/ 12:27 , Oct 22, 2012

South Indian Bank lost 5.33% to Rs 22.20 at 12:28 IST on BSE as the private sector bank's ratio of gross non-performing assets to gross advances edged up to 1.74% as on 30 September 2012 from 1.08% as on 30 June 2012.

The private sector bank declared the second quarter results after market hours on Friday, 19 October 2012.

Meanwhile, the BSE Sensex was up 97.49 points or 0.52% to 18,779.80.

On BSE, 6.47 lakh shares were traded in the counter as against average daily volume of 2.5 lakh shares in the past one quarter.

The stock hit a high of Rs 23.70 and a low of Rs 22.05 so far during the day. The stock had hit a 52-week low of Rs 19.90 on 2 January 2012. The stock had hit a 52-week high of Rs 28.30 on 22 February 2012.

The stock had outperformed the market over the past one month till 19 October 2012, rising 3.99% compared with the Sensex's 1.01% rise. The scrip had, however, underperformed the market in past one quarter, falling 3.7% as against Sensex's 8.12% rise.

The private sector bank has equity capital of Rs 133.55 crore. Face value per share is Re 1.

South Indian Bank's ratio of gross non-performing assets (NPA) to gross advances stood at 1.74% as on 30 September 2012, higher than 1.08% as on 30 June 2012 and 0.99% as on 30 September 2011. The ratio of net NPA to net advances stood at 0.86% as on 30 September 2012, higher than 0.35% as on 30 June 2012 and 0.25% as on 30 September 2011.

South Indian Bank's net profit rose 2.3% to Rs 97.15 crore on 23% growth in total income to Rs 1144.53 crore in Q2 September 2012 over Q2 September 2011. The bank's provisions and contingencies fell 0.4% to Rs 23.74 crore in Q2 September 2012 over Q2 September 2011.

The bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 14.43% as on 30 September 2012, higher than 13.16% as on 30 June 2012 and 13.48% as on 30 September 2011.

South Indian Bank is a Kerala-based private-sector bank.

 



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