South Indian Bank’s bad loans increased in Q4FY16
DSIJ Intelligence / 11 May 2016
South Indian Bank has declared its Q4FY16 results on May 11. The bank’s total interest earned has declined by 2.83 per cent to Rs 1368 crore in Q4FY16 as compared to previous quarter.
South Indian Bank has declared its Q4FY16 results on May 11. The bank’s total interest earned has declined by 2.83 per cent to Rs 1368 crore in Q4FY16 as compared to previous quarter. Its Operating Profit before Provisions and Contingencies has decreased by 15.5 per cent to Rs 222 crore in Q4FY16 on a quarterly basis. South Indian Bank’s PAT has also reduced by 16.83 per cent to Rs 212 crore in Q4FY16 as compared to previous quarter.
On asset quality front, South Indian Bank has deteriorated further in Q4FY16. The bank’s gross Non-Performing Assets stand at 3.77 per cent, i.e. at Rs 1562 crore in Q4FY16; while at 2.75 per cent, i.e. at Rs 716 crore in Q3FY16. Its net NPA stands at 2.89 per cent, i.e. at Rs 1185 crore in Q4FY16; while at 1.8 per cent, i.e., Rs 1108 crore in Q3FY16.
South Indian Bank’s top line has increased by 5.13 per cent and stands at Rs 5557 crore in FY16 as compared to previous fiscal year. Its Operating Profit before Provisions and Contingencies, has also risen by 13.37 per cent to Rs 362 crore in FY16 on a yearly basis. South Indian Bank’s Provisions and Contingencies expense has reduced by 10.73 per cent to Rs 370 crore; and other income has increased by 4.09 per cent to Rs 517 crore in FY16 on a yearly basis. Its bottom line also has increased by 8.49 per cent to Rs 333 crore in FY16 as compared to previous financial year.
On segmental revenue front, South Indian Bank has earned 22.44 per cent from Treasury segment; 45.06 per cent from Corporate Banking segment; 30.20 per cent from Retail Banking segment; and remaining 2.31 per cent from other banking operations segment as of FY16.
The share price of South Indian Bank has increased by 1.67 per cent on bourses in early trades; and is trading at Rs 18 on an intraday basis.
South Indian Bank provides Retail and Corporate banking; and Para banking activities. The bank's operating segments include Treasury, Corporate/Wholesale Banking, Retail banking and other banking operations. It has a network of approximately 842 branches in India.
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