South Indian Bank reports mixed Q4 results
South Indian Bank reported its financial performance for the quarter ended March 2019. Net Interest Income (NII) surged a mere 1 per cent YoY to Rs. 499 crore in Q4FY19 from Rs. 492 crore in Q4FY18.
CASA surged 14 per cent YoY to Rs. 19,467 crore in Q4FY19 from Rs. 17,142 crore in Q4FY18. Deposits rose 12 per cent YoY to Rs. 80,420 crore in Q4FY19 from Rs. 72,030 crore in Q4FY18. Advances climbed 15.5 per cent YoY to Rs. 63,636 crore in Q4FY19 from Rs. 55,109 crore in Q4FY18. Net Interest Income (NII) surged a mere 1 per cent YoY to Rs. 499 crore in Q4FY19 from Rs. 492 crore in Q4FY18. On the other hand, other income showcased healthy growth of 32 per cent YoY to Rs. 236 crore in Q4FY19 from Rs. 179 crore in Q4FY18. Profit after tax dipped 38 per cent YoY to Rs. 71 crore in Q4FY19 from Rs. 114 crore in Q4FY18.
The company’s retail base strengthened 33.9 per cent YoY to Rs. 18,458 crore. It expanded its Agriculture and SME base by 13.7 per cent YoY to Rs. 23,742 crore.
During January 2019 to March 2019, the company sanctioned a total of 3,428 mortgage loans, amounting to a total of Rs. 1,346 crore. Overall, the company has demonstrated sustainable asset quality, rising fee income and improving Net Interest Margins (NIMs).
On Friday, the shares of South Indian Bank opened at Rs. 14.85 and hit a high and low of Rs. 14.95 and Rs. 14.35, respectively. At 9:56 am, the stock was trading at Rs. 14.75, down 3.59 per cent.