South Indian Bank posts robust Q2FY17
DSIJ Intelligence / 08 Oct 2016
South Indian Bank (SIBL) has declared its Q2FY17 results on Friday. The bank’s net total income has increased by 16.1 per cent to Rs 591 crore in Q2FY17 as compared to same period in previous financial year.
South Indian Bank (SIBL) has declared its Q2FY17 results on Friday. The bank’s net total income has increased by 16.1 per cent to Rs 591 crore in Q2FY17 as compared to same period in previous financial year. Its NIM stands at 2.75 per cent in Q2FY17 against 2.81 per cent in Q2FY16. SIBL’s PAT has increased by 18.8 per cent to Rs 110.5 crore in Q2FY17 on a yearly basis. The bank’s CASA too has risen by 13.5 per cent to Rs 13698 crore in Q2FY17 as compared to same period in previous financial year. Its deposits have increased by 13.5 per cent to Rs 60192 crore in Q2FY17 on a yearly basis. SIBL’s advances also have risen by 10.1 per cent to Rs 43548 crore in Q2FY17 as compared to same period in previous fiscal.
SIBL’s net interest income has increased by 12.35 per cent to Rs 819 crore in H1FY17 as compared to same period in previous fiscal. The bank’s branch and ATM network has increased by 5.09 per cent to 839 and 18.47 per cent to 1306 as of H1FY17.
On asset quality front, SIBL’s gross NPA has remained same at 3.96 per cent amounting to Rs 1745 crore as of Q2FY17. The bank’s net NPA stands at 2.77 amounting to Rs 1206 crore in Q2FY17 against 2.89 per cent at Rs 1192 crore in Q1FY17.
On Friday, the share price of SIBL declined by 3.23 per cent on bourses; and closed at Rs 23.95.
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