South Indian Bank registers 23 percent rise in profit
Private lender South Indian Bank on Thursday said its Net profit for fourth quarter is up by 22.74% from Rs. 272.04 Cr in FY 22 to Rs. 333.89 Cr in FY 23.
The company said its operating profit of the fourth quarter increased by 95.02% from Rs. 287.94 Cr in FY 22 to Rs. 561.55 Cr in FY 23.
The bank declared net profit of Rs. 775.09 Cr for the FY 22-23, highest ever in the history of the bank.
Growth in net profit is 1623.11% compared Previous Year.
While declaring the results Murali Ramakrishnan MD & CEO of South Indian Bank added that the bank achieved its highest ever performance in the following areas:
Highest ever business of Rs. 1,63,743.42 Cr in the history of the Bank
Highest ever net profit of Rs. 775.09 Cr in the history of the Bank
Highest ever net interest income of Rs. 3,012.08 Crore in the history of the Bank
Highest ever CRAR of 17.25% in the history of the Bank
Highest ever Provision Coverage Ratio (including write off) of 76.78%
Highest NIM of 3.30% in the last 17 years
Highest Return on Assets of 0.72% in the last 9 years
Highest Return on Equity of 11.61% in the last 9 years
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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