South Indian Bank net profit up by 20 percent
By IANSFriday, April 30, 2010
THRISSUR - Kerala-based South Indian Bank (SIB) posted net profit of Rs.233.76 crore in the last fiscal — a rise of 20.03 percent over the previous year (2008-09).
The total business of the bank increased by 29.40 percent to Rs.39,127 crore and the deposits grew to Rs.23,012 crore from Rs.18,092 crore in the previous fiscal, SIB said in a release.
The bank earned a total income of Rs.2,144.18 crore during the year as against Rs.1,851.19 crore in 2008-09.
With extensive monitoring and recovery measures, the bank could bring down net NPA (non-performing assets) percentage to 0.39 per cent from 1.13 percent as on March 31, 2009.
The board of directors has recommended a dividend of Rs.four per share.
The bank has 580 branches across 26 states.
