The Hindu Business Line : South Indian Bank net up 105%

Kochi April 23 The net profit of South Indian Bank has gone up by 105 per cent to Rs 104.12 crore (Rs 50.90 crore) for the year 2005-06. The board of directors has recommended a dividend of 25 per cent, up from 18 per cent of last year.

Announcing the results at a press conference, Dr V.A. Joseph, Chairman of the bank, said that the bank had crossed several milestones during the past year like reducing the net NPA to less than one per cent levels, total income crossing the Rs 1,000-crore mark, even as the total business surpassed the Rs 20,000 crore threshold for the first time. The net profit for the fourth quarter grew by 43 per cent to Rs 23 crore (Rs 16 crore).

The net NPA to net advances plunged to 0.98 per cent, down from 1.86 per cent of last year. The total business touched Rs 20,549 crore (Rs 16,324 crore). Of this, Rs 12,239 crore (Rs 9,579 crore) came as deposits and Rs 8,308 (Rs 6,745 crore) as advances.

More Stories on : Financial Performance | Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rupee gains 9 paise

Corpn Bank branches under CBS

Bank of India net rises 76% in fourth quarter

IOB's net tops Rs 1,000 cr

Reliance Capital Q4 net up 9%

Indian Bank's Q4 profit up 69%

South Indian Bank net up 105%

Insurance cover for advocates

`Liquid plus' funds claim greater share of spoils

Services, manufacturing drive 9.2% GDP growth

BoB opens Gen-Next branch

Bond prices drop by 25 paise

Call rates down 9%

`Size matters for banks'

Central Bank gets nod for IPO