Kochi, May 16 (UNI) South Indian Bank (SIB) has declared a net profit of Rs 1302.88 crore for FY 24-25, registering a growth of 21.75% compared to Rs 1070.08 crore in FY 23-24.
While declaring the results, PR Seshadri, MD & CEO, stated that the bank achieved its highest ever business of Rs 1,95,104.12 crore in the history of the bank.
It achieved an operating profit of Rs 2,270.08 crore and other income of Rs 1,813.43 crore. It recorded net interest income of Rs 3,485.64 crore in this FY 24-25.
The Board of Directors had recommended a 40% dividend subject to approval of the shareholders in the AGM.
The retail deposit grew by Rs 7,007 crore from Rs 97,743 crore to Rs 1,04,749.60 crore Y-o-Y, showing an increase of 7.17% on a Y-o-Y basis.
The NRI Deposit grew by Rs 1,906 crore from Rs 29,697 crore to Rs 31,603 crore Y-o-Y, showing an increase of 6.42% on a Y-o-Y basis. Savings Bank grew by 4.06% Y-o-Y from Rs 26,618 crore to Rs 27,699.31 crore.
Gross advances grew by Rs 7,153 crore from Rs 80,426 crore to Rs 87,578.52 crore showing an increase of 8.89% on Y-o-Y basis.
The corporate segment grew by Rs 4,114 crore from Rs. 32,084 crore to Rs. 36,198 crore showing an increase of 12.82% on Y-o-Y basis, in well rated borrower accounts.
Gold Loan portfolio grew by Rs 1,469 crore from Rs 15,513 crore to Rs 16,982 crore showing an increase of 9.47% on Y-o-Y basis. Housing Loan grew by Rs. 2,794 crore from Rs. 5,083 crore to 7,877 crore registering a growth of 54.97%. Vehicle Loan grew by 24.32pc Y-o-Y from Rs. 1,599 Cr to Rs. 1,987 crore.
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