South Indian Bank Q3 net profit up 8 pc at Rs 91 cr

Private sector lender South Indian Bank on Thursday posted a 7.9 per cent rise in net profit to Rs 90.54 crore for the third quarter ended December 31. The bank had recorded a net profit of Rs 83.85 crore in the corresponding period of the previous financial year.

Total income of the lender improved to Rs 2,187.73 crore during the quarter under review, as against Rs 1,921.93 crore in the year-ago period, South Indian Bank said in a regulatory filing. Gross non-performing assets (NPAs) rose to 4.96 per cent of the total advances, compared to 4.88 per cent at the end of the third quarter of previous fiscal.

However, net NPAs declined to 3.44 per cent in October-December 2019 from 3.54 per cent a year ago.

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