South Indian Bank net profit up 20% to Rs 234 cr

Last Updated: Sat, May 01, 2010 09:22 hrs

Kerala-based South Indian Bank (SIB) today announced net profit of Rs 233.76 crore for 2009-10 fiscal, an increase of 20.03 per cent over the previous year.

The bank attributed the increase to "sterling performance in all aspects of operations".

The bank has recommended a dividend of Rs four per share this year as against Rs three for the previous one, a bank press release said here.

The total business of the bank increased to Rs 39,127 crore, marking growth of 29.40 per cent, while the deposits went up to Rs 23,012 crore, an increase of 27.19 per cent over the previous year.

Advances grew by 32.69 per cent to Rs 16,115.

The bank earned a total income of Rs 2,144.18 crore during the year as against Rs 1,851.19 crore for the previous year.

The bank further brought down its net non-performing assets (NPA) to 0.39 per cent from 1.1 per cent, the release said.

The capital adequacy ratio of the bank stood at 14.73 per cent (under BASEL I) and 15.39 per cent (BASEL II) against the regulatory requirement of nine per cent.

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