South Indian Bank - Q1FY13 result first cut - Microsec Research

South Indian Bank Ltd has announced its Q1FY13 result on 16th July 2012. The bank's total income increased by 1.28% QoQ and 44.88% YoY to INR371.76 crores mainly, because of the robust growth in bank's Net Interest Income (NII) and Other Income by 44.79% and 45.23% YoY to INR296.76 and 74.98 crores respectively. The Profit After Tax (PAT) increased by 0.89% QoQ and 49.16% YoY to INR123.04 crores.

On the assets quality front, the bank's assets quality is the matter of concern. The GNPA and NNPA stood at 1.08% and 0.35%, increased by 11 and 7bps QoQ and 1 and 6bps YoY respectively. However, the bank is in good position to tame any time liabilities with 13.16% of its Capital Adequacy Ratio (CAR), which is 4.16% higher than the regulator stipulated norm. Moreover, the bank has improved its Net Interest Margin (NIM) by 5bps QoQ and 62bps YoY to 3.15%.

Source : Equity Bulls

Keywords