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South Indian Bank Ltd News

South Indian Bank share price jumps 6% on strong June quarter show

The bank's standalone net profit rose 45.4 per cent to Rs 294.1 crore in Q1FY25, as opposed to Rs 202.4 crore in Q1FY24.

South Indian Bank share price jumps 6% on strong June quarter show
Updated On : 19 Jul 2024 | 12:54 PM IST

South Indian Bank Q1 results: PAT up 45% at Rs 294 cr on lower provisions

South Indian Bank on Thursday reported a 45.29 per cent jump in its June quarter net profit at Rs 294 crore, helped by lower provisions. The lender had posted a net profit of Rs 202 crore in the year-ago period, according to a statement. Its core net interest income grew 7 per cent to Rs 808 crore, on the back of a 11 per cent growth in overall advances and 0.08 per cent decline in the net interest margin at 3.26 per cent. The other income grew 16.8 per cent to Rs 422 crore. Overall deposits grew by 8.41 per cent to Rs 1.03 lakh crore. The provisions were lower by 43 per cent to Rs 113 crore, which helped the bank widen its profit growth. On the asset quality front, the proportion of gross non performing assets stood at 4.50 per cent as against the 5.13 per cent in the year-ago period. Its overall capital adequacy stood at 18.11 per cent as on June 30, 2024. The bank scrip closed 1.27 per cent down at Rs 26.50 apiece on the BSE, as against gains of 0.78 per cent on the benchmark

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Updated On : 19 Jul 2024 | 12:22 AM IST

South Indian Bank targets 11-12% deposit growth in FY25: MD & CEO Seshadri

The bank will focus more on growing its retail and micro, small and medium enterprises (MSME) portfolio

South Indian Bank targets 11-12% deposit growth in FY25: MD & CEO Seshadri
Updated On : 06 May 2024 | 2:48 PM IST

South Indian Bank Q4 results: Net profit down 14% at Rs 287.56 crore

The bank's gross non-performing asset in Q4 FY24 came down by 64 basis points from 5.14% to 4.50%

South Indian Bank Q4 results: Net profit down 14% at Rs 287.56 crore
Updated On : 02 May 2024 | 5:42 PM IST

South Indian Bank Q4 results: Net profit dips 14% to Rs 288 crore

South Indian Bank on Thursday reported a 13.88 per cent decline in March quarter net profit to Rs 287.56 crore. The private sector bank posted a net profit of Rs 333.89 crore in the January-March period of the 2022-23 fiscal year. Total expenditure increased to Rs 2,187 crore in the March quarter, from Rs 1,757 crore in the same period a year ago, South Indian Bank said in a regulatory filing. The bank's total income rose to Rs 2,621 crore in the fourth quarter of 2023-24, from Rs 2,318 crore in the year-ago period. For 2023-24 fiscal, the bank's net profit rose 38 per cent to Rs 1,070 crore, from Rs 775 crore in the 2022-23 fiscal. The bank's board has recommended a dividend of Rs.0.30 per equity shares of face value of Re 1 each (30 per cent) for the financial year ended March 31, 2024 Shares of South Indian Bank were trading at Rs 28.92, down 6.01 per cent over previous close on the BSE.

South Indian Bank Q4 results: Net profit dips 14% to Rs 288 crore
Updated On : 02 May 2024 | 3:26 PM IST

South Indian Bank, Karur Vysya Bank post double digit growth in deposits

The deposits of South Indian Bank grew by 11.21% year-on-year (Y-o-Y) to Rs 1,01,929 crore from Rs 91,651 cr. Meanwhile, the deposits of Karur Vysya Bank rose by 16.28% Y-o-Y to Rs 89,113 cr

South Indian Bank, Karur Vysya Bank post double digit growth in deposits
Updated On : 02 Apr 2024 | 8:03 PM IST

South Indian Bank shares sink 7% post Q4 business update

Last month, the Reserve Bank of India had asked South Indian Bank to not enroll new customers for its co-branded products till regulatory requirements are complied with

South Indian Bank shares sink 7% post Q4 business update
Updated On : 02 Apr 2024 | 11:34 AM IST

South Indian Bank approves Rs 1,151 cr rights issues to fund business

South Indian Bank on Thursday said the board of the bank has approved a rights issue raise of up to Rs 1,151 crore to fund business growth. The board has approved proposal for issuance of 5,231,85,254 rights issue on fully-paid up basis for an amount aggregating up to Rs 1,151.01 crores assuming full subscription with respect to rights equity shares, South Indian Bank said in a regulatory filing. The rights issue would be priced at Rs 22 per fully paid-up share, including a Rs 21 premium per unit on application, it said. The rights issue opens on March 6 and closes on March 20, 2024, the private sector lender added.

South Indian Bank approves Rs 1,151 cr rights issues to fund business
Updated On : 22 Feb 2024 | 11:12 PM IST

South Indian Bank's board approves terms of rights issue worth Rs 1,151 cr

The bank will issue 523.1 million rights shares at Rs 22 each on a fully paid-up basis

South Indian Bank's board approves terms of rights issue worth Rs 1,151 cr
Updated On : 22 Feb 2024 | 12:20 PM IST

South Indian, IDBI Bank gain up to 14%; hit multi-yr highs post Q3 results

IDBI Bank surged 14% to hit over five-year high of Rs 86.97; while South Indian Bank hit a fresh six-year high of Rs 33.70 on soaring 9% backed by heavy volumes.

South Indian, IDBI Bank gain up to 14%; hit multi-yr highs post Q3 results
Updated On : 24 Jan 2024 | 1:56 PM IST

Our top priority is to continue focus on high-quality assets: P R Seshadri

The managing director (MD) and chief executive officer (CEO) of the Kerala-based South Indian Bank, Seshadri talks about his priorities, the bank's growth roadmap and third quarter numbers

Our top priority is to continue focus on high-quality assets: P R Seshadri
Updated On : 21 Jan 2024 | 9:52 PM IST