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Patna,(BiharTimes): The net profit of the South Indian Bank for the financial year 2011-12 increased to Rs. 401.66 crore as against 292.56 crore for the previous year, registering a growth of 37.29%.
The net profit for the quarter ending March 31, 2012 increased by 49.17% at Rs. 121.96 crore against Rs. 81.76 Crore during the last quarter of previous year. |
Performance Highlights
|
31.03.2011 |
31.03.2012 |
% Growth |
Deposit (Rs Crore) |
29,721 |
36,501 |
22.81% |
Advances (Rs Crore) |
20,799 |
27,635 |
32.87% |
Total Business (Rs Crore) |
50,520 |
64,136 |
26.95% |
Gross NPA (%) |
1.11 |
0.97 |
|
Net NPA (%) |
0.29 |
0.28 |
|
Net Profit |
292.56 |
401.66 |
37.29% |
Provision Coverage |
73.64% |
71.36% |
|
CRAR (Basel II) |
14.01% |
14.00% |
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Branches |
641 |
700 |
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ATMs |
489 |
663 |
|
Net Interest Margin |
3.06 |
3.10 |
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Proposed Dividend |
50% |
60% |
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According to a Press release issued on Wednesday 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 has 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.
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