Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
VG Mathew, MD and CEO, South Indian Bank
South Indian Bank has registered a 11 per cent growth in its net profit in Q1 at ₹81.65 crore against ₹73.26 crore during the corresponding period of the previous year. The operating profit has grown from ₹317.63 crore to ₹403.68 crore, a growth of 27 per cent.
According to VG Mathew, MD & CEO, there has been a good growth in the retail, agriculture and MSME portfolios. As part of the business strategy to reduce its exposure in the corporate advances, the bank has brought down the share of corporate advances from 32.36 per cent as on June 30, 2019 to 27.74 per cent as on June 30, 2020.
He added that the growth in the desired portfolios and the reduction in the corporate exposure has further strengthened the bank’s balance sheet. The retail portfolio has grown at 10 per cent and is already accounting for 32 per cent of the loan book, in tune with the Bank’s stated objective of becoming a retail banking powerhouse.
The net interest income registered a growth of 10 per cent and net interest margin improved from 2.53 per cent to 2.62 per cent. Other income, too, registered a growth of 57 per cent.
The gross NPA stood well contained at 4.93 per cent (vis-a-vis 4.96 per cent last year) and net NPA improved to 3.09 per cent as against 3.41 per cent a year ago.
SIB has also been able to meet the targeted levels of recovery/upgrades which has helped in containing the GNPA level, he added.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
This Women’s Day, we discuss the features of a few financial products that aim to help you save, get insured ...
Sensex, Nifty 50 make a strong bounce-back, but test resistances
Avenue Supermarts (₹3,286.1): Makes fresh all-time highIn October last year, the stock of Avenue Supermarts ...
The exchange-traded fund ticks all boxes as an efficient tool to track gold prices
Muriel has put our names down on a list to get the Covid-19 vaccination because — hurrah! — the age limit has ...
They are the health warriors who battled the Covid-19 pandemic on the ground, and are now the face of the ...
Uzbekistan’s grandest city dazzles tourists with its history, architecture and food
It’s the birth anniversary of Michelangelo di Lodovico Buonarroti Simoni, one of the great artists and ...
Comfort, convenience, value, safety — and not necessarily the colour pink — but do brands deliver?
Why and how marketers have used camels, and left us thirsting for more
Start-up SALT wants to break feminine stereotypes around money, and is asking women to reassert agency
It’s that time of year again when brands suddenly start paying obeisance to women power. From sentimental to ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor