South Indian Bank had declared highest ever quarterly net profit of Rs. 341.87 Cr for Q3 FY 2024-25 registering a growth of 11.96% compared to Rs. 305.36 Cr in Q3 FY 2023-24.
Key Highlights
- Operating profit for the quarter increased by 9.39% from Rs. 483.45 Cr in Q3 FY 24 to Rs. 528.84 Cr in Q3 FY 25
- Net profit of the Bank for quarter is up by 11.96% from Rs. 305.36 Cr in Q3 FY 24 to Rs. 341.87 Cr in Q3 FY 25
- Gross NPA came down by 44 bps from 4.74% to 4.30% on Y-o-Y basis
- Net NPA dropped by 36 bps from 1.61% to 1.25% on Y-o-Y basis
- Net interest income went up from Rs. 819.03 Crore to Rs. 869.26 Crore, registering a growth of 6.13% on Y-o-Y basis
- Return on Assets increased by 5 bps from 1.07% to 1.12% Y-o-Y basis
- PCR excl. write off increased by 465 bps from 67.08% to 71.73% Y-o-Y basis
- PCR including write off increased by 310 bps from 77.97% to 81.07% Y-o-Y basis
o Deposits
- Retail Deposit grew by Rs. 7,332 Crore from Rs. 95,088 Crore to Rs. 1,02,420 Crore, showing an increase of 7.71% on Y-o-Y basis
- NRI Deposit grew by Rs. 1,896 Crore from Rs. 29,236 Crore to Rs. 31,132 Crore, showing an increase of 6.49% on Y-o-Y basis
- CASA grew by 4.13% on Y-o-Y basis with growth in Savings Bank by 3.37% and Current Account by 7.73% respectively
Advances
- Gross advances grew by Rs. 9,280 Crore from Rs. 77,686 Crore to Rs. 86,966 Crore, showing an increase of 11.95% on Y-o-Y basis
- Corporate Segment went up by Rs. 5,064
Crore from Rs. 29,892 Crore to Rs. 34,956
Crore, showing an increase of 16.94% on Y
o-Y basis
- Share of A and above rated accounts in large
corporate segment grew from 96% to 99.6% on Y-o-Y basis
- Personal Loan book grew by Rs. 63 Crore from Rs. 2,186 Crore to Rs. 2,249 Crore, showing an increase of 2.88% on Y-o-Y basis
- Gold Loan portfolio went up by Rs. 1,597 Crore from Rs. 15,369 Crore to Rs.16,966 Crore, showing an increase of 10.39 % on Y-o-Y basis
- Housing Loan grew by Rs. 3,195 crore from Rs. 5,000 Crore to Rs. 8,195 Crore registering a growth of 63.9%
- Vehicle Loan grew by 24.71% Y-o-Y from Rs. 1,554 Crore to Rs. 1,938 Crore
Y-o-Y growth
Rs. in Crore
| Quarter Ended | Quarter Ended | |||
| 31-12-2024 | 31-12-2023 | Growth | % | |
| Gross Advance | 86,966 | 77,686 | 9,280 | 11.95% |
| Retail Deposits | 1,02,420 | 95,088 | 7,332 | 7.71% |
| NRI Deposit | 31,132 | 29,236 | 1,896 | 6.49% |
| Current Deposits | 5,927 | 5,502 | 425 | 7.73% |
| Savings Deposits | 26,903 | 26,027 | 876 | 3.37% |
| CASA | 32,830 | 31,529 | 1,301 | 4.13% |
| CASA % | 31.15% | 31.80% | -65 bps | |
| Gross NPA % | 4.30% | 4.74% | -44 bps | |
| Net NPA % | 1.25% | 1.61% | -36 bps | |
| Net Interest Income | 869.26 | 819.03 | 50.23 | 6.13% |
| Operating Profit | 528.84 | 483.45 | 45 | 9.39% |
| Provisions excl. tax | 66.04 | 48.55 | 17 | 36.02% |
| Profit before tax | 462.80 | 434.90 | 28 | 6.42% |
| Net Profit after tax | 341.87 | 305.36 | 37 | 11.96% |
Mr. P R Seshadri, MD & CEO of the Bank, while
announcing the results, stated that the strategy
adopted by the Bank continues to enable the business
performance. During the period, Bank registered
growth in all the desired segments with a focus on
quality asset across all verticals Corporate, Housing loan, Auto Loan, Personal Loan, Gold Loan etc.
He also stated that, in line with the strategic intent of the Bank viz, “Profitability through quality credit growth”, the Bank could on board fresh advances with low risk profile.
Capital adequacy of the Bank stood at 18.00% in December 2024 compared to 15.60% in December 2023.