South Indian Bank posted a 52 % increase in net profit for the fourth quarter of FY 2018 at Rs 114.10 crore against Rs.75.55 crore during the corresponding period of the previous year. For the full fiscal FY18, net profit came in at Rs334.89 crore compared to Rs392.50 crore last year.
The bank’s MD and CEO, VG Mathew, said that the lender has returned to the normal trajectory of growth and expressed satisfaction with the shift of focus to retail, MSME and agriculture.
The bank’s GNPA stood at 3.59 per cent as on March 31, 2018, against 2.45 per cent as on March 31, 2017, while the net NPA stood at 2.60 per cent as on March 31, 2018, against 1.45 per cent as on March 31, 2017.
The gross business of the bank increased by Rs14,176 crore at Rs1,27,139 crore, achieving a growth of 12.55 per cent year-on-year.