South Indian Bank,Indian Bank

The Bank posted a good set of numbers for Q3FY17. Other income rose 69% (YoY) to Rs.258 crore while operating profit rose 43% to Rs.377 crore. Both these helped boost the net profit of th Bank to Rs.111 crore, up 10%. Net Interest Income showed a much muted growth at Rs,417 crore, up 3%.

In terms of asset quality, though Gross NPA rose rose marginally from 3.98% to 3.96% while Net NPA actually declined from 2.77% to 2.52%. Thus an overall improvement in asset quality is what cheered up the market.

The Bank said that slippages in Q3 were at Rs.196 crore, down 13% and out of this Rs.196 crore, Rs.100 crore was on account of one EPC account. Provisions showed a very sharp rise of 61% (QoQ) and 94% (YoY) at Rs.207 crore.