SOUTH INDIAN BANK DECLARES THE HIGHEST EVER NET PROFIT OF RS. 401.66 CRORE.
05/09/2012

Board has recommended a dividend of 60% as against 50% last year.

Online PR News – 09-May-2012 – Kerala – Gross NPA below 1% mark at 0.97%.

Net NPA low at 0.28%

Net profit for the F.Y 2011-12 increased to Rs. 401.66 Crore as against 292.56 Crore for the previous year, registering a growth of 37.29%.

Net profit for the quarter ended March 31, 2012 up by 49.17% at Rs. 121.96 Crore against Rs. 81.76 Crore during the last quarter of previous year.

Performance Highlights

Deposit (Rs Crore)

31.03.2011 - 29,721
31.03.2012 - 36,501
% Growth - 22.81%

Advances (Rs Crore)

31.03.2011 - 20,799
31.03.2012 – 27,635
% Growth - 32.87%

Total Business (Rs Crore)

31.03.2011 - 50,520
31.03.2012 – 64,136
% Growth -26.95%

Gross NPA (%)

31.03.2011 - 1.11
31.03.2012 – 0.97

Net NPA (%)

31.03.2011 - 0.29
31.03.2012 – 0.28
% Growth -

Net Profit

31.03.2011 - 292.56
31.03.2012 – 401.66
% Growth -37.29%

Provision Coverage

31.03.2011 - 73.64%
31.03.2012 – 71.36%

CRAR (Basel II)

31.03.2011 - 14.01%
31.03.2012 – 14.00%

Branches

31.03.2011 - 641
31.03.2012 – 700

ATMS

31.03.2011 - 489
31.03.2012 – 663

Net Interest Margin

31.03.2011 - 3.06
31.03.2012 – 3.10

Proposed Dividend

31.03.2011 - 50%
31.03.2012 – 60%

The total business of the bank has increased by Rs. 13,616 Crore from Rs. 50,520 Crore to Rs. 64,136 Crore on year-to-year basis registering a growth of 26.95%. While the deposits has gone up by Rs. 6,780 Crore from Rs. 29,721 Crore to Rs. 36,501 Crore registering a growth of 22.81%, the advances have increased by Rs. 6,836 Crore from Rs. 20,799 Crore to Rs. 27,635 Crore registering a growth of 32.87%. CASA of the bank has increased by Rs. 775 Crore from Rs. 6,404 Crore to Rs. 7,179 Crore registering a growth of 12.11%. Dr. V A Joseph, MD & CEO stated that the robust growth in business coupled with low NPA enabled the bank to attain the present level of performance.

The bank earned a total income of Rs. 3,830 Crore during 2011-12 as against Rs. 2,643 Crore for the previous year registering a growth of 44.91%.

The Net Interest Margin has increased from 3.06% as on 31.03.2011 to 3.10% as on 31.03.2012.

Annualised earnings per share increased from Rs. 2.59 as at 31.03.2011 to Rs. 3.55 as at 31.03.2012.

Book Value per share increased from Rs. 16.33 as at 31.03.2011 to Rs. 19.12 as at 31.03.2012.

The Capital adequacy ratio of the bank stood at 14.00% (under BASEL II standards) against the regulatory requirement of 9%.

Provision Coverage ratio stands at 71.36% as on 31.03.2012.
In order to achieve the ambitious growth target, Bank decided to raise capital to the tune of Rs. 400.00 Crores during the year.

The bank is planning to increase the number of branches and ATMS to 750 each by next fiscal end.