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Kochi, June 29 South Indian Bank has declared a dividend of 25 per cent for 2006-07, up from 18 per cent the previous year. The bank’s net profit grew 105 per cent to Rs 104.12 crore (Rs 50.90 crore).

Addressing the 79th AGM of the bank at Thrissur, the Chairman, Dr V.A. Joseph, said that that the improvement in profitability was due to the thrust given to NPA recovery and reduction in the cost of deposits.

The net NPAs have come down from 1.86 to 0.98 per cent.

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