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Total deposits rose by 6.28% YoY to ₹1,05,378 crore from ₹99,155 crore as of December 31, 2023. The bank’s Current Account Savings Account (CASA) deposits also saw a modest growth of 4.13%, increasing to ₹32,831 crore from ₹31,529 crore. The CASA ratio stood at 31.16% for Q3 FY25, slightly lower than the 31.80% recorded in the corresponding quarter of the previous year.
Also Read: South Indian Bank targets aggressive deposit growth and asset expansion
South Indian Bank’s Net Interest Income (NII), or the core income, increased by 6.3% from last year to ₹882.7 crore from ₹830.6 crore last year. Its net profit grew by 18.1% to ₹324.5 crore from ₹274.8 crore during the year-ago period. Other Income for the quarter also increased significantly to ₹449 crore from ₹355 crore last year.
South Indian Bank’s asset quality improved sequentially, with Gross Non-Performing Assets (NPA) improving to 4.4% from 4.5% earlier, while its Net NPA also improved to 1.31% from 1.44% in the June quarter. Provisions for the quarter remained flat at ₹110 crore from ₹113 crore in the June quarter.
Shares of South Indian Bank Ltd ended at ₹25.14, up by ₹0.12, or 0.48% on the BSE.
Also Read: RBI imposes penalty on South Indian Bank
