 "banks, bank rate cuts, lending rates, deposits, savings, investment, schemes, shares, insurance")
Thrissur-based lender South Indian Bank on Friday posted a loss before tax of Rs 190.04 crore during the quarter ended March 31, 2020, as compared to a profit before tax of Rs 108.40 crore in the corresponding period of the previous year. The bank's total income grew to Rs 2,341.88 crore during the quarter as compared to Rs 2026.59 crore during same period last year.
The bank made a one time provisioning of Rs 255 crore on some large value non performing assets (NPA) it sold to an asset reconstruction company in 2017. With this, the provisioning for the sold portfolio
