South Indian Bank gross advances increases by 18 per cent YoY in Q3

South Indian Bank

South Indian Bank surged 7.79 per cent to Rs 20.75 as the business increased total advances by 18 per cent year on year to Rs 70,168 crore as of December 31, 2022. The bank’s gross advances were Rs 59,226 crore as of December 31, 2021.

Total deposits increased by 3 per cent to Rs 90,714 crore on December 31, 2022, up from Rs 88,348 crore on December 31, 2021.

CASA ratio increased by 189 basis points to 33.84 per cent on December 31, 2022, from 31.95 per cent on December 31, 2021.

South Indian Bank is a large private-sector bank based in Thrissur, Kerala, India.

In Q2 FY23, the bank reported a net profit of Rs 223.10 crore, compared to a net loss of Rs 187.06 crore in Q2 FY22. In Q2 FY23, total income increased 10.62 per cent year on year to Rs 1,995.24 crore.

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