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South Indian Bank notched up a net profit of ₹126.65 crore in the first quarter of financial year 2014-15.
“This is the highest-ever net profit in our bank’s history,” VA Joseph, Managing Director and CEO, told a news conference here on Wednesday. The net profit was more than 10 per cent over the same quarter last year.
The Thrissur-based bank, with 801 branches, did a business of ₹81,000 crore, up from last year’s ₹75,000 crore.
The net NPA (non-performing assets) was down from 1.12 per cent to 0.91 per cent. Joseph said the NPA could be brought down with extreme caution with regard to lending, effective monitoring and follow-up.
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