South Indian Bank Q2 profit rises 18% to Rs 325 cr

New Delhi: South Indian Bank on Wednesday posted an 18 per cent increase in profit at Rs 325 crore in the second quarter ended September 2024.

The private sector lender had posted a net profit of Rs 275 crore in the same quarter a year ago.

Total income increased to Rs 2,804 crore during the quarter under review, as against Rs 2,485 crore in the same period last year, South Indian Bank said in a regulatory filing.

The bank earned an interest income of Rs 2,355 crore during the quarter, compared to Rs 2,129 crore in the same period a year ago.

The bank was able to reduce gross Non-Performing Assets (NPAs) to 4.40 per cent of the gross loans by the end of September 2024, from 4.96 per cent a year ago.

Similarly, net NPAs or bad loans came down to 1.31 per cent, from 1.70 per cent at the end of the second quarter of the previous fiscal.