Kochi: Thrissur-based South Indian Bank has posted a net profit of Rs 334.89 crore for the financial year 2018, down from Rs 392.50 crore for the previous year. However, the bank made a rebounding performance in the last quarter, netting a profit of Rs 114.10 crore against Rs 75.55 crore, an increase of 51 per cent compared with the figures for the corresponding period of the previous year.
The bank’s operating profit for the quarter and the financial year also went up and stood at Rs 311 crore (up 10.68 per cent) and Rs 1,481 crore (up 21.92 per cent), respectively. The bank’s total business was up 12.55 per cent and stood at Rs 1,27,139 crore. Deposits increased 9.94 per cent to Rs 72,030 crore. The bank’s CASA (current and savings account) increased by Rs 1,394 crore to Rs 17,140 crore, registering a growth of 8.85 per cent and now stood at 23.80 per cent of total deposits. NRI deposits accounted for 26.18 per cent of the total deposits.
On the flip side, the quality of the bank’s assets showed a decline with gross NPA going up from 3.40 per cent to 3.59 per cent and net NPA from 2.35 per cent to 2.60 per cent in the final quarter. The NPAs for the fiscal also went up with GNPA going up from 2.45 per cent last year to 3.59 this fiscal while net NPA almost doubled from 1.45 per cent to 2.6 per cent.
