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 .