Shares of South Indian Bank surged by 6.4% to a one-month high of ₹28.20 each after the bank announced a 45.30% increase in net profit for Q1FY25, reaching ₹294 crore compared to ₹202 crore in the same period last year.
Key Highlights:
- Net Interest Income (NII): Increased to ₹866 crore from ₹808 crore in Q1FY24.
- Net Interest Margin: Slightly decreased to 3.26% from 3.34% in Q1FY24.
- Other Income: Grew by 16.80% to ₹422 crore year-on-year.
- Operating Profit: Rose to ₹507.68 crore from ₹490.24 crore year-on-year.
- Provisions: Reduced to ₹113 crore from ₹199 crore in Q1FY24.
- Asset Quality: Gross NPAs fell to 4.50%, net NPAs dropped to 1.44%.
- Deposits: Retail deposits increased by 8.37% to ₹99,745 crore; NRI deposits rose by 4.55% to ₹29,236 crore.
- CASA Deposits: Grew by 6.51%; savings accounts increased by 4.87%, current accounts by 14.80%.
- Corporate Advances: Increased by 23.48% to ₹33,984 crore.
- Personal Loans: Grew by 19.5% to ₹2,312 crore.
- Gold Loans: Increased by 12.70% to ₹16,317 crore.
- Return on Equity: Improved to 12.90% from 11.80% year-on-year.
- Return on Assets: Increased to 1% from 0.73% year-on-year.
- Provision Coverage Ratio: Rose to 69.05% from 65.15% year-on-year.
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