Financial Daily from THE HINDU group of publications
Thursday, Jan 19, 2006
Financial Daily from THE HINDU group of publications Thursday, Jan 19, 2006 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks South Indian Bank Q3 net dips Our Bureau
Kochi , Jan. 18 THE net profit of South Indian Bank has grown by 243 per cent to Rs 34.59 crore (Rs 10.07 crore) during the first nine months of the current fiscal. The net profit declined to Rs 20.65 crore (Rs 23.19 crore) for the third quarter ended December 2005. However, for the first nine months of this fiscal, net profit grew by 243 per cent to Rs 34.59 crore (Rs 10.07 crore). The total business went up by Rs 1,981 crore between December 2004 and 2005. Deposits increased by Rs 973 crore and advances by Rs 1,008 crore. The assets segment show a clear shift of capital employed from treasury to other banking operations, resulting in an increase in the net interest income, a press release from the bank said. Net interest income has increased by 16.01 per cent to Rs 230 crore (Rs 199 crore). Net NPA has come down from 3.85 per cent to 2.42 per cent, mainly on account of the higher recovery. The bank proposes to come out with public issue aggregating Rs 150 crore by the second week of February, the release said.
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