South Indian Bank's share were soaring high almost 4 per cent after private lender declared their quarterly earnings for quarter ended on December 31, which revealed that lender's net profit for the under quarter under review has jumped 12 per cent.
The shares of the South Indian Bank went soaring high to the touch the day high level of Rs 26.95 per shar on the NSE (National Stock Exchange), after hitting the opening bell at Rs 26.00 per share on the bourses.
South Indian Bank's shares were trading around Rs 26.94 per share on the Indian exchanges with upswing of over 4.42 per cent amounting to a Rs 1.14 per share on the dalal street.
South Indian Bank Q3 FY25
In the three months that ended in December 2024, the South Indian Bank reported a 11.95 per cent increase in net profit, reaching Rs 341.87 crore.
In the same quarter last year, the company reported a post-tax profit of Rs 305.36 crore.
Q3 FY25 CASA Deposits and ratio
In Q3 FY25, bank retail deposits increased 7.71 per cent year over year to Rs 1,02,420 crore from Rs 95,088 crore in Q3 FY24. With gross advances of Rs 86,966 crore in Q3 FY25, there was an 11.95 per cent year-over-year increase.
As of December 31, 2024, CASA was valued at Rs 32,830 crore, up 4.13 per cent year over year. Compared to 31.80 per cent on December 31, 2023, the CASA ratio was Rs 31.15 per cent on December 31, 2024.
Gross and net NPA (Non performing asset)
As of December 31, 2024, the gross non-performing assets (NPAs) to gross advances ratio was 4.30 percent, down from 4.74 per cent on that date in 2023. As of December 31, 2024, the net NPA to net advances ratio was 1.25 per cent, down from 1.61 per cent on that date in 2023.
In comparison to Rs 3,682.4 crore on December 31, 2024, and Rs 3,731.31 crore on September 31, 2024, the gross non-performing assets (NPA) as of December 31, 2024, were Rs 3,735.56 crore.
Management on Q3
'During the period, Bank registered growth in all the desired segments with a focus on quality asset across all verticals Corporate, Housing loan, Auto Loan, Personal Loan, Gold Loan etc', said P R Seshadri, MD & CEO, South Indian Bank
He also stated that, in line with the strategic intent of the Bank, 'Profitability through quality credit growth', the Bank could on board fresh advances with low risk profile, Seshadri added.