11.94% increase in gross advances, 18.1% increase in net profit

private sector South Indian Bank released the December quarter (Q3) business update on January 1, 2025. The bank has recorded significant growth in gross advances, total deposits and net profit in this quarter. Bank shares saw slight gains, and it BSE But closed at the level of ₹25.14.

Gross Advances: 11.94% YoY growth

• Bank’s in December quarter gross advances Reached ₹86,965 crore.
• This compared to ₹77,686 crore in the same period last year. increase of 11.94% It reflects.
• After this news the bank shares 0.48% rise Was recorded.

Bank Stock Performance:

• Market Cap: ₹6,577.36 crore
• 52-Week High: ₹36.91
• 52-Week Low: ₹22.27

6.28% increase in total deposits

• of South Indian Bank total deposit to ₹1,05,378 crore, up from ₹99,155 crore in the same quarter last year 6.28% more Are.
• of the bank Current Account Savings Account (CASA) Deposits increased by 4.13% from ₹31,529 crore to ₹32,831 crore.
• However, the CASA ratio declined from 31.80% to 31.16%.

6.3% increase in Net Interest Income (NII)

• of the bank Net Interest Income (NII) Revenue increased by 6.3% to ₹882.7 crore as against ₹830.6 crore in the same quarter last year.
• of the bank net profit grew by 18.1% to reach ₹324.5 crore from ₹274.8 crore last year.
• Other Income: ₹449 crore, which was more than last year’s ₹355 crore.

asset quality improvement

There was also improvement in the asset quality of the bank:

• Gross NPA: decreased by 4.5% 4.4% But he came.
• Net NPA: decreased from 1.44% 1.31% But reached.
• The bank’s provision remained stable at ₹110 crore, down from ₹113 crore in the June quarter.

Highlights of South Indian Bank’s quarterly performance