South Indian Bank logs a profit of Rs65cr; Asset quality improves

Gross non-performing assets (GNPA) improved to 4.87% as on September 2020, against 4.92% as of September 2019.

Oct 16, 2020 04:10 IST India Infoline News Service

The South Indian Bank
Kerala-based South Indian Bank registered a net profit of Rs65.09cr for the quarter ending September 2020 (Q2FY21), declining 23% from Rs84.48cr in the corresponding period of the previous year.

In the quarter, the bank posted a total income of Rs2,138.74cr down from Rs2,203.18cr a year ago same period. Meanwhile, the bank earned interest income of Rs1,898.84cr down from Rs1,953.97cr in the similar quarter of the previous year.

The bank made a provision of Rs326.40cr in the quarter under review, compared to Rs306.34cr a year ago same period.

Gross non-performing assets (GNPA) improved to 4.87% as on September 2020, against 4.92% as of September 2019.

On Sensex, South Indian Bank stock finished at Rs6.67 per piece down 1.48%. 

Related Story