Net interest income (NII) was at Rs 866 crore during the quarter, up 7.21% on YoY basis.

Operating profit was at Rs 508 crore in Q1 FY25, up by 3.62% from Rs 490 crore in Q1 FY24.

Provisions (other than tax) and contingencies stood at Rs 112.95 crore in Q1 FY25, down 43.09% from Rs 198.5 crore reported in Q1 FY24.

Profit before tax in Q1 FY25 stood at Rs 395 crore, up by 36% from as compared with Rs 291 crore in Q1 FY24.

Bank’s retail deposit jumped 8.37% YoY to Rs 99,745 crore in Q1 FY25 from Rs 92,043 crore in Q1 FY24. Gross advances grew by Rs 8,478 crore from Rs 74,102 to Rs 82,580 crore showing an increase of 11.44% on Y-o-Y basis.

CASA was at Rs 33,196 crore as on 30 June 2024, up 6.51% YoY. CASA ratio stood at Rs 32.06% as on 30 June 2024 as against 32.64% as on 30 June 2023.

Bank’s personal loan book grew by Rs 377 crore from Rs 1,935 crore to Rs 2,312 crore, showing an increase of 19.5% on YoY basis.

During the quarter, gold loan portfolio jumped 12.70% YoY from Rs 14,478 crore to Rs 16,317 crore.

On the asset quality front, the ratio of gross NPAs to gross advances was at 4.50% as on 30 June 2024 as compared to 5.13% as on 30 June 2023. The ratio of net NPA to net advances stood at 1.44% as on 30 June 2024 as against 1.85% as on 30 June 2023.

Gross NPA stood at Rs 3,719.87 crore as on 30 June 2024 as against Rs 3,620.34 crore as on 31 march 2024 and Rs 3,803.87 crore as on 30 June 2023.

Provision coverage ratio (PCR) excluding write off increased by 390 bps from 65.15% to 69.05% Y-o-Y basis. Provision coverage ratio (PCR) including write improved by 267 bps from 76.54% in Q1 FY25 to 79.22% in Q1 FY24.

Capital of the Bank stood at 18.11% in June 2024 compared to 16.49% in June 2023

Seshadri, MD & CEO of the bank, said, “The strategy adopted by the Bank continues to enable the business performance. During the period, Bank registered growth in all the desired segments with a focus on quality asset across all verticals Corporate, Auto Loan, Credit Card, Gold Loan etc.

He also stated that, in line with the strategic intent of the Bank viz, “Profitability through quality credit growth”, the Bank could on board fresh advances with low risk profile.”

South Indian Bank provides retail and corporate banking, Para banking activities such as debit card, third party product distribution, in addition to treasury and foreign exchange business. As on 31 March 2024, the bank had a network of 955 branches and 1,188 ATMs across the country.