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Kochi, July 25

South Indian Bank (SIB) has posted a net profit of Rs 15.05 crore during the first quarter of the current fiscal as against Rs 5.31 crore in the corresponding period the previous year.

The total business of the bank also increased to Rs 16,545 crore from Rs 13,249 crore on a year-to-year basis, registering a growth of 24.88 per cent, according to an official press release here. The deposits have gone up to Rs 10,240 crore from Rs 7,997 crore, while the advances have increased to Rs 6,305 crore from Rs 5,252 crore.

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Total income went up to Rs 227.03 crore in the first quarter from Rs 198.41 crore, an increase of 14.42 per cent over the same period last fiscal. The gross NPA came down to 5.42 per cent (6.61 per cent) while the net NPA dropped to 2.07 per cent (3.44 per cent).

The capital adequacy ratio rose to 12.04 per cent (9.71 per cent) as on June 30, 2006, it said. The bank has already obtained permission to open another 25 branches to take the number of branches to 475.

(This article was published in the Business Line print edition dated July 26, 2006)
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