South Indian Bank’s Q1FY17 results are glittering

South Indian Bank has announced its Q1FY17 results on July 8. The bank’s interest earned has increased by 5.8 per cent to Rs 1447 crore in Q1FY17 as compared to previous quarter. Its operating profit before provisions and contingencies too has risen by 3.38 per cent to Rs 86.04 crore in Q1FY17 on a quarterly basis. South Indian Bank’s net profit also has increased by 30.27 per cent to Rs 95.06 crore in Q1FY17 on quarter on quarter basis.

On yearly basis, South Indian Bank’s top line has increased by 5.12 per cent to Rs 1447 crore in Q1FY17. The bank's operating profit before provisions and contingencies has risen  by 11.65 per cent to Rs 86.04 crore in Q1FY17 against Rs 77.06 crore in Q1FY16. Its bottom line has boosted by 45.6 per cent to Rs 95.06 crore in Q1FY17 on year on year basis.

On segmental front, South Indian bank has earned 22.26 per cent from treasury, 42.36 per cent from wholesale banking, 31.77 per cent from retail banking and remaining 2.45 per cent from other banking operations during Q1FY17.

On asset quality front, South Indian Bank has remained intact in Q1FY17. The bank’s gross non-performing assets (NPA) stand at 3.96 per cent amounting to Rs 1651 crore in Q1FY17 against 3.77 per cent amounting to Rs 1562 crore in Q4FY16. Its net NPA has remained at 2.89 per cent amounting to Rs 1191 crore in Q1FY17 against Rs 1185 crore in Q4FY16.

The share price of South Indian Bank increased by 1.57 per cent on bourses; and closed at Rs 22.6 on Friday.

South Indian Bank provides retail and corporate banking, para banking activities, treasury and foreign exchange business. 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.