South Indian Bank Declares The Highest Ever Net Profit Of Rs. 401.66 Crore.
Board has recommended a dividend of 60% as against 50% last year.
Kerala (I-Newswire) May 10, 2012 - Kerala-based South Indian Bank (SIB) has declared the highest ever net profit of Rs 401.66 crore. The bank has also announced 60% dividend as against the 50% in the previous year.
Gross NPA below 1% mark at 0.97%.
Net NPA low at 0.28%
Net profit for the F.Y 2011-12 increased to Rs. 401.66 Crore as against 292.56 Crore for the previous year, registering a growth of 37.29%.
Net profit for the quarter ended March 31, 2012 up by 49.17% at Rs. 121.96 Crore against Rs. 81.76 Crore during the last quarter of previous year.
Deposit (Rs Crore)
31.03.2011 - 29,721
31.03.2012 - 36,501
% Growth - 22.81%
Advances (Rs Crore)
31.03.2011 - 20,799
31.03.2012 – 27,635
% Growth - 32.87%
Total Business (Rs Crore)
31.03.2011 - 50,520
31.03.2012 – 64,136
% Growth -26.95%
Gross NPA (%)
31.03.2011 - 1.11
31.03.2012 – 0.97
Net NPA (%)
31.03.2011 - 0.29
31.03.2012 – 0.28
% Growth -
31.03.2011 - 292.56
31.03.2012 – 401.66
% Growth -37.29%
31.03.2011 - 73.64%
31.03.2012 – 71.36%
CRAR (Basel II)
31.03.2011 - 14.01%
31.03.2012 – 14.00%
31.03.2011 - 641
31.03.2012 – 700
31.03.2011 - 489
31.03.2012 – 663
Net Interest Margin
31.03.2011 - 3.06
31.03.2012 – 3.10
31.03.2011 - 50%
31.03.2012 – 60%
The total business of the bank has increased by Rs. 13,616 Crore from Rs. 50,520 Crore to Rs. 64,136 Crore on year-to-year basis registering a growth of 26.95%. While the deposits has gone up by Rs. 6,780 Crore from Rs. 29,721 Crore to Rs. 36,501 Crore registering a growth of 22.81%, the advances have increased by Rs. 6,836 Crore from Rs. 20,799 Crore to Rs. 27,635 Crore registering a growth of 32.87%. CASA of the bank has increased by Rs. 775 Crore from Rs. 6,404 Crore to Rs. 7,179 Crore registering a growth of 12.11%. Dr. V A Joseph, MD & CEO stated that the robust growth in business coupled with low NPA enabled the bank to attain the present level of performance.
The bank earned a total income of Rs. 3,830 Crore during 2011-12 as against Rs. 2,643 Crore for the previous year registering a growth of 44.91%.
The Net Interest Margin has increased from 3.06% as on 31.03.2011 to 3.10% as on 31.03.2012.
Annualised earnings per share increased from Rs. 2.59 as at 31.03.2011 to Rs. 3.55 as at 31.03.2012.
Book Value per share increased from Rs. 16.33 as at 31.03.2011 to Rs. 19.12 as at 31.03.2012.
The Capital adequacy ratio of the bank stood at 14.00% (under BASEL II standards) against the regulatory requirement of 9%.
Provision Coverage ratio stands at 71.36% as on 31.03.2012.
In order to achieve the ambitious growth target, Bank decided to raise capital to the tune of Rs. 400.00 Crores during the year.
The bank is planning to increase the number of branches and ATMS to 750 each by next fiscal end.
About South Indian Bank
One of the earliest banks in South India, "South Indian Bank" came into being during the Swadeshi m More..ovement. The establishment of the bank was the fulfillment of the dreams of a group of enterprising men who joined together at Thrissur, a major town (now known as the Cultural Capital of Kerala), in the erstwhile State of Cochin to provide for the people a safe, efficient and service oriented repository of savings of the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest.Less..
South Indian Bank
South Indian Bank
Mission Quarters, Thrissur
Phone : +91-487-2420020
Published On:May 10, 2012
Print Release:Print Release
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