South Indian Bank has recorded a net profit of Rs.102.24 crore during the third quarter ended December 31, 2011, against Rs.77.46 crore in the year-ago period.
A statement issued by the bank said that total business increased by Rs.12,697 crore from Rs.46,186 crore to Rs.58,883 crore on a year-to-year basis, signifying a growth of 27.49 per cent.
Managing Director V. A. Joseph said that low non-performing assets (NPAs) and robust growth had helped the bank put up such a performance for the third quarter.
The bank earned a total income of Rs.2,754.14 crore during the nine months
ended December 31, 2011, against Rs.1,878.52 crore in the previous year, a growth of 47 per cent. Net interest margin has increased from 3.03 per cent as on December 31, 2010, to 3.05 per cent as on December 31, 2011.