{"id":4952,"date":"2020-07-09T02:53:14","date_gmt":"2020-07-09T02:53:14","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=4952"},"modified":"2020-07-09T02:53:14","modified_gmt":"2020-07-09T02:53:14","slug":"south-indian-bank-net-profit-rises-11-5-to-rs-81-65-cr-in-q1","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=4952","title":{"rendered":"South Indian Bank net profit rises 11.5% to Rs 81.65 cr in Q1"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2017890\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-227.jpg\" alt=\"Operating profit for the first quarter has grown from Rs 317.63 crore to Rs 403.68 crore .\" width=\"660\" height=\"439\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2017890\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-227.jpg\" alt=\"Operating profit for the first quarter has grown from Rs 317.63 crore to Rs 403.68 crore .\" width=\"660\" height=\"439\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2017890\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/1-227.jpg\" alt=\"Operating profit for the first quarter has grown from Rs 317.63 crore to Rs 403.68 crore .\" width=\"660\" height=\"439\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/1-227.jpg 660w, https:\/\/images.financialexpress.com\/2020\/07\/1-227-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/1-227-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/1-227-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/1-227-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/1-227-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/1-227-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">Operating profit for the first quarter has grown from Rs 317.63 crore to Rs 403.68 crore .<\/span><\/figure>\n<\/div>\n<p>South <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/indian-bank-stock-price\/\" rel=\"noopener noreferrer\">Indian Bank<\/a> on Wednesday announced the first quarter results of the current fiscal with a net profit of Rs 81.65 crore, an increase of 11.5 % over Rs 73.26 crore reported during the corresponding period of the previous fiscal.<\/p>\n<p>Operating profit for the first quarter has grown from Rs 317.63 crore to Rs 403.68 crore .The net interest income registered a growth of 10% to Rs 587 crore. Net interest margin improved from 2.53% to 2.62% Y-o-Y. Other income registered a growth of 57% during the quarter in review.<\/p>\n<p>GNPA and NNPA stood at 4.93% and 3.09% as on June 30,2020 as against 4.96% and 3.41% as on June 30, 2019.<\/p>\n<p>VG Mathew, MD &amp; CEO, while announcing the results mentioned that there has been good growth in the retail, agriculture and MSME portfolios.<\/p>\n<p>He added that the growth in the desired portfolios and the reduction in the corporate exposure has further strengthened bank\u2019s balance sheet. The retail portfolio has grown at 10% Y-o-Y and is already accounting for 32% of the loan book, in tune with the bank\u2019s stated objective of becoming a retail banking powerhouse. Agriculture and MSME portfolios have grown by 15% and 9% Y-o-Y and the combined portfolio now constitutes 40% of loan book.<\/p>\n<p>\u201cBank has also been able to meet the targeted levels of recovery\/ upgrades which has helped in containing the GNPA level. The provision coverage ratio of the bank has improved markedly to 58.76% from 45.08% Y-o-Y,\u201d he added.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/south-indian-bank-net-profit-rises-11-5-to-rs-81-65-cr-in-q1\/2017887\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Operating profit for the first quarter has grown from Rs 317.63 crore to Rs 403.68 crore . South Indian Bank on Wednesday announced the first quarter results of the current fiscal with a net profit of Rs 81.65 crore, an increase of 11.5 % over Rs 73.26 crore reported during [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4953,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-4952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/1-227.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/4952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4952"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/4952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/4953"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}