South Indian Bank has posted a net profit of Rs.23.04 crores for the quarter ended June 30,2018, as against Rs.101.47 crore during the corresponding period last year.

Net interest income of the bank during the quarter ended June 30,2018 grew 7% at Rs.4.94 billion, as against Rs.4.61 billion in the year ago quarter.  Net interest margin dropped 20 bps to 2.6%, from 2.8%. Furthermore, the bank’s asset quality also worsened during the quarter under review, as the gross and net NPA grew by 93 bps and 73 bps at 4.54% and 3.27% respectively.

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