South Indian Bank Q4 profit jumps 52%

Kochi: The South Indian Bank net profit for Q4 of 2017-18 has surged 52% to touch Rs 114.10 crore from a year ago. Encouraged by the result, the bank has recommended a dividend at 40%.

Announcing the results the bank here on Monday, MD and CEO V G Mathew said the operating profit has grown by 11 % to Rs 311 crore despite a negative growth of 31% in the treasury profit. He said the overall business performance has improved with clear shift of focus to retail, MSME and agriculture.

The net profit for the whole year of 2017-18 has dipped by 14% to Rs 334.89 crore due to one-time provisioning of Rs 252 crore in Q2. The operating profit for the year grew 22% to Rs 1481 crore.


The gross NPA stood at 3.59% at the end of 2017-18 compared with 2.45 a year ago. The net NPA was at 2.60 against 1.45 in the previous year.

The gross business of the bank went up by 12.5% in Q4 at 127139 crore from a year ago with deposit growth at 9% and advances growth at 17%. The NRI deposit went up by 12 % to Rs 18855 crore.

To continue the growth momentum in the retail, MSME and agriculture segment, the bank proposes to increase headcount by around 750 during fiscal 19.