South Indian Bank Announced Q1FY23 Result :

• Reported 1018% growth in profit after tax on YoY basis to touch Rs.115 crores in Q1-2023
• Net Interest Margin improved by 19 bps YoY to 2.74% in Q1-2023
• Provision coverage ratio improved by 1000 bps YoY to reach 70.11%
• GNPA ratio improved by 215 bps YoY to 5.87% and Net NPA ratio improved by 218 bps YoY to 2.87%
• Gold loan continue to grow consistently and rose 27% YoY to Rs. 11,961 crores
• Share of A & above rated large corporates improved from 56% in Jun 2021 to 88% in Jun 2022
• CASA amount increased by 18% YoY to Rs. 30,335 crores; CASA ratio improved by 399 bps YoY to 34.39%
• NRI deposits has grown consistently to Rs. 27,598 crores
• Remittance business grew by 22% YoY
• Core fee income grew by 41% YoY to Rs. 128 crores
• About 94% of banking transactions are done digitally
• Mobile banking transactions volume increased by 119% YoY to 73 million transactions
• Capital adequacy position continued to be robust with CRAR of 16.25% from 15.47% and Tier I ratio of 13.62% from 12.73%

Result PDF