South Indian Bank - Q4FY12 Result First Cut - Microsec Research

South Indian Bank has announced its Q4FY12 along with Annual FY12 result.

On quarterly basis, the bank's total income increased by 10.13% QoQ and 30.11% YoY to INR367.06 crores mainly because of 28.39% and 36.41% YoY growth in its Net Interest Income (NII) and other income respectively. Profit After Tax (PAT) is increased by 19.28% QoQ and 49.14% YoY to INR121.95 crores. For the whole year of FY12, the bank's total income is increased by 28.45% YoY to INR1268.81 crores whereas, Profit After Tax (PAT) increased by 37.29% YoY to INR401.65 crores.

The Bank has reported a growth in advances by 8.91% QoQ and 33.15% YoY to INR27280.74 crores and a growth in deposits by 7.88% QoQ and 22.81% YoY to INR36500.53 crores. On the assets front, the bank's NNPA and GNPA stood at 0.28% and 0.97%, decreased by 1 and 14bps YoY respectively. Moreover, Capital Adequacy Ratio is stood at 14%, which is 5% higher than the regulator stipulated norm. However, Net Interest Margin (NIM) of the bank is improved by 5bps QoQ to 3.10%.

The Board of Directors have recommended a dividend of 60% i.e. Rs.0.60 per equity share for the financial year 2011-12 (previous year dividend was Rs. 0.50 per share (50%)

Source : Equity Bulls

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