South Indian Bank Q2 net rises 45%

g

The South Indian Bank (SIB) recorded a rise of 44.80 per cent in net profit to Rs 51.68 crore for the second quarter of the current financial year as against Rs 35.69 crore in the corresponding quarter last year.

The total business of the bank increased by Rs 3,758 crore from Rs 23,078 crore to Rs 26,836 crore on year-on-year, registering a growth of 16.28 per cent. While deposits have gone up from Rs 13,932 crore to Rs 15,715 crore with a growth of 12.80 per cent, advances increased by Rs 1,974 crore from Rs 9,147 crore to Rs 11,121 crore.

 

The bank earned a total income of Rs 440.08 crore during the quarter as against Rs 345.82 crore last year.