Conference Call with South Indian Bank Management and Analysts on Q3FY22 Performance and Outlook. Listen to the full earnings transcript.
Banking firm South Indian Bank declares Q3FY22 result: Overall disbursements increased by 81% YoY & 28% QoQ to Rs. 7,901 crores in Q3-2022 Net Interest Margin improved by 15 bps QoQ to 2.64% in Q3-2022 Provision coverage ratio improved by 306 bps QoQ to reach 68.1% GNPA ratio improved sequentially to 6.56% and Net NPA ratio improved by 33 bps QoQ to 3.52% Witnessed robust recovery and upgrade of Rs. 896 crores in 9M-FY22 CASA amount increased by 21% YoY to Rs. 28,229 crores; CASA ratio improved by 112 bps QoQ to 32.0% Signed MOU with CBDT and CBIC to collect direct and indirect taxes on behalf of the Central Government NRI deposits has grown consistently through pandemic to reach Rs. 27,144 crores Remittance business grew by 35% YoY About 93% of banking transactions are done digitally Mobile banking transactions volume increased by 107% YoY to 57 million transactions Share of A & above rated large corporates improved from 75% in Sep 2021 to 82% in Dec 2021 Gold loan continue to grow consistently and rose 12% YoY to Rs. 9,862 crores Core fee income grew by 23% YoY to Rs. 127 crores Capital adequacy position continued to be robust with CRAR of 15.68% Result PDF
Key highlights: Provision coverage ratio improved by 491 bps QoQ to reach 65.0% GNPA ratio improved by 137 bps to 6.65% and Net NPA ratio improved by 120 bps to 3.85% CASA ratio continue to increase and stands at 30.8% compared to 27.8% same period last year NRI deposits has grown consistently through pandemic to reach Rs. 26,823 crores Remittance business grew by 29% YoY More than 92% of banking transactions are done digitally Mobile banking transactions volume increased by 118% YoY to 46 million transactions Churn large corporates portfolio (Rs. 100 crore & above) with better rated corporates. 75% of portfolio is A & above rated Gold loan continue to grow consistently and rose 11% YoY to Rs. 9,470 crores Launched pre-approved personal loan and achieved monthly disbursement target of Rs. 100 Cr in the month of Sep 2021 Disbursed Rs. 300+ crores to Business segment in August and September 2021 respectively Launched co-branded fully digital One Card credit card Core fee income grew by 27% YoY to Rs. 117 crores Strong traction in third party distribution income with an increment of 43% YoY Capital adequacy position continued to be robust with CRAR of 15.74% Result PDF