South Indian Bank's Q3 Results Show Solid Loan and Deposit Growth

1 Jan 2025 , 11:44 PM

South Indian Bank posted an 11.94% increase in loans given, reaching ₹86,965 crore in Q3 FY25, compared to ₹77,686 crore last year. Deposits at ₹1,05,378 crore increased by 6.28% during Q3 FY25 as against ₹99,155 crore the previous year. CASA increased by 4.13%, reaching ₹32,831 crore versus ₹31,529 crore earlier, and the CASA ratio went off a wee bit to 31.16% against 31.80% previously.

The bank earned interest income of ₹882.7 crore, 6.3% higher than the ₹830.6 crore earned in the same period last year. Profits rose by 18.1% to ₹324.5 crore from ₹274.8 crore in the same quarter last year. Other income of the bank also improved significantly, rising to ₹449 crore from ₹355 crore last year.

Asset quality has improved, the Gross NPA going down at 4.4% and Net NPA at 1.31% from 4.5% and 1.44%. The provision of money for the bad loans saw no movement staying at ₹110 crore with an improvement to slightly lesser amount reported in the last quarter ₹113 crore. It was good seeing South Indian Bank improving financial soundness during the quarter through improvements in growth, profitability, as well as decreases in NPA.

On January 1, 2025, shares of South Indian Bank closed at ₹25 which is a 0.72% gain than the previous close. Shares of South Indian Bank has gained  a total of 2.19% in the last one year and 5% dip in the last six months.