Kerala-based South Indian Bank (SIB) declared a net profit of Rs233.76 crore for 2009-10 financial year, a rise of 20.03% over the earlier year.
The bank, which had earned a net profit of Rs194.75 crore in 2008-09, credited the hike to “sterling performance in all aspects of operations.”
The bank has declared a dividend of Rs4 per share as compared to Rs3 for the earlier year, an SIB statement said.
The overall business of the bank went up by Rs8,890 crore from Rs30,237 crore to Rs39,127 crore, denoting an increase of 29.40% while the deposits rose by Rs4,920 crore from Rs18,092 crore to Rs23,012 crore, a rise of 27.19% over the earlier year.
Advances went up by 32.69% from Rs3,970 crore from Rs12,145 crore to Rs16,115.
The bank’s total income was Rs2,144.18 crore in the year as compared to Rs1,851.19 crore in the earlier year. Basic Earnings per share rose to Rs20.69 during the year as compared to Rs17.23 in the earlier year.
The Capital adequacy ratio of the bank was 14.73% (as per BASEL I) and 15.39% (BASEL II) against the statutory requirement of 9%.
Due to the wide supervision and recovery steps, the bank further reduced its Net NPA to 0.39% from 1.1%, the release added.
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