South Indian Bank,Indian Bank
South Indian Bank posted a strong set of numbers for Q1FY17. Net profit showed a 46% (YoY) rise at Rs.95 crore. Its total deposits during the quarter rose 11% and CASA deposits showed a very good 15% growth. NRI deposits showed a 25% jump. The Bank’s growth has come from retail loans which rose 16% while corporate actually dipped 2%. Agriculture and SME advances rose 22%; home loans rose 19% and auto loan portfolio rose 28%. As on June 30, the capital adequacy ratio stood at 11.68%.
Net Interest Income rose 10% at Rs.374 crore and Net Interest margins improved marginally from 2.54% to 2.74%. Total provisioning has risen 43% at Rs.164 crore of which Rs.93 crore is towards NPAs. Gross NPA rose marginally from 3.77% to 3.96% (QoQ) while Net NPA remained flat at 2.89%. Total slippages were Rs.129 crore wherein SME and Agriculture .