South Indian Bank posts highest-ever quarterly profit of Rs 342 crore in Q3

Thrissur-based South Indian Bank (SIB) on Tuesday reported its highest-ever quarterly net profit of Rs 341.87 crore in the third quarter of financial year 2025 (Q3FY25), a jump of 12 per cent against Rs 305.36 crore during the same quarter in FY24.  

 

The bank’s operating profit in Q3FY25 was up by 9.4 per cent at Rs 528.84 crore, as against Rs 341.87 crore in the third quarter of the previous financial year. Gross non-performing assets (NPA) reduced by 44 basis points from 4.74 per cent to 4.30 per cent during the period under review, versus last year, while net NPA dropped by 36 basis points from 1.61 per cent to 1.25 per cent on a year-on-year basis. 

 

PR Seshadri, managing director and chief executive of the bank, said on Tuesday that 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 assets across all verticals corporate, housing loan, auto loan, personal loan, and gold loan.

 

He also said that in line with the strategic intent of “profitability through quality credit growth”, the bank could on-board fresh advances with a low risk profile.

 

Provision coverage ratio including write-off increased by 310 basis points from 77.97 per cent to 81.07 per cent on a Y-o-Y basis. The bank’s retail deposits grew by Rs 7,332 crore, from Rs 95,088 crore to Rs 1,02,420 crore, showing an increase of 7.71 per cent on a Y-o-Y basis. 

 

NRI deposit too grew by Rs 1,896 crore from Rs 29,236 crore to Rs 31,132 crore, showing an increase of 6.49 per cent on Y-o-Y basis. CASA grew by 4.13 per cent on Y-o-Y basis with growth in savings accounts by 3.37 per cent and current account by 7.73 per cent respectively.  The bank’s gross advances grew by Rs 9,280 crore from Rs 77,686 crore to Rs 86,966 crore, showing an increase of 12 per cent on Y-o-Y basis.