The South Indian Bank Limited — Updates, 21-01-2025: Press Release

South Indian Bank has reported its highest quarterly net profit of ₹341.87 Cr for the third quarter of FY 2024-25, reflecting an 11.96% increase from ₹305.36 Cr in the same quarter last year. Operating profit also rose by 9.39% to ₹528.84 Cr. The bank has successfully reduced its Gross NPA by 44 bps to 4.30%, while Net NPA improved by 36 bps to 1.25%. Net interest income increased by 6.13% to ₹869.26 Cr.

On the deposits front, retail deposits surged by ₹7,332 Cr to ₹1,02,420 Cr, marking a 7.71% growth year-on-year. NRI deposits also grew by ₹1,896 Cr to ₹31,132 Cr, a 6.49% increase. In terms of advances, the bank reported an 11.95% rise, with gross advances reaching ₹86,966 Cr, driven largely by corporate and housing loans.

The management emphasized a strategy focusing on quality credit growth, which has facilitated growth across various segments. The bank's capital adequacy ratio stands at 18.00%, up from 15.60% last year, indicating a robust financial position. Potential growth ahead looks promising for investors.