South Indian Bank's Q4 deposits dip to Rs 82,710 cr from from Rs 83,034 cr

South Indian Bank's total deposits dipped marginally to Rs 82,710 crore in the January to March quarter from Rs 83,034 crore in the year-ago period.

However, retail deposits grew by 15 per cent at Rs 76,294 crore as against Rs 66,457 crore in Q4 FY20. But bulk deposits cracked by 55 per cent year-on-year to Rs 4,853 crore in Q4 FY21.

Current account and savings account (CASA) deposits were up by 18 per cent to Rs 24,590 crore as of March 2021.

The gross advances fell 8 per cent to Rs 60,385 crore of which corporate advances degrew by 21 per cent to Rs 14,800 crore in Q4 FY21.

The other advances also came down by 3 per cent to Rs 45,585 crore. The liquidity coverage ratio stood at 294.94 per cent as of March 31, 2021, down from 297.49 per cent a year ago.

South Indian Bank said the data by the end of March 2021 is provisional and is subject to audit by statutory auditors of the bank.

The Thrissur-based private sector lender has been facing challenges on asset side which have been aggravated by prevailing uncertainty in the environment because of COVID-19-led disruptions, weak capital buffers and subdued operating performance.

The bank has a sizeable franchise in southern states, especially in Kerala, a stable liability profile and a diversified loan mix with an increasing focus towards granular exposures.