South Indian Bank’s fourth- quarter net profit rose 51% to ₹114.10 crore from ₹75.55 crore in the year-earlier period. Net profit for the financial year 2017-18 stood at ₹334.89 crore (₹392.50 crore).
Operating profit for the March quarter rose to ₹311 crore from ₹281 crore, a growth of 10.68%.
Operating profit for the year stood at ₹1,481 crore (₹1,215 crore), an increase of 21.92%, the bank said in a statement.
The bank had returned to the normal trajectory of performance and growth during the last quarter, said V. G. Mathew, MD and CEO. The focus on retail, MSME and agriculture is consistently delivering improvement in the operating performance of the bank, said Mr. Mathew.
The bank’s gross non-performing assets stood at 3.59% as on March 31, 2018 (2.45%) while net NPAs were 2.60% (1.45%). The board of directors had recommended a dividend of ₹0.40 a share or 40%.
