The net profit of South Indian Bank was higher by 10.3 per cent at Rs.126.65 crore for the first quarter ended June 30, 2014, when compared with the year-ago period.
Announcing the quarterly results here on Wednesday, V. A. Joseph, Managing Director, said the bank’s strategy of focusing on core deposits had yielded excellent results.
Total businessTotal business of the bank increased by Rs.6,058 crore to Rs.81,181 crore.Total income grew 9.16 per cent to Rs.1,465.84 crore during the quarter from Rs.1,342.88.
The bank has maintained its capital adequacy ratio above the regulatory requirement of 9 per cent and it stood at 12.32 per cent and 12.19 per cent under the Basel-II and Basel-III standards, respectively.