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Thrissur-based South Indian Bank posted a net profit of ₹72.97 crore in the fourth quarter ended March 31, 2016. This was against ₹102 crore in the third quarter of the same fiscal.
However, the profit for the full year touched ₹333.27 crore, a 26-per cent growth over the previous financial year, after excluding extra-ordinary income of ₹43 crore.
The Board, which met here on Wednesday, has recommended a dividend of 50 per cent.
The bank’s total business increased by ₹7,616 crore to ₹97,506 crore, a growth of 8.47 per cent y-o-y. Deposits rose by ₹3,809 crore to ₹55,721 crore, while CASA increased by ₹1,773 crore to ₹12,459 crore. CASA now stands at 22.36 per cent of the total deposits.
Asset quality Announcing the results, VG Mathew, MD and CEO, said that asset quality stress in the corporate sector had substantially come down due to systematic reduction of stressed assets over a period of six quarters. “A substantial clean-up has already happened in the large corporate loan book. We have also increased our focus on retail lending and therefore, stress in the overall loan book is expected to ease, going forward,” he said.
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