SIB Q3 net up 20.65% to Rs 75.36 crore

South Indian Bank (SIB) has clocked a net profit of Rs 75.36 crore in Q3 FY 11 as against Rs 62.46 crore in the year-ago period.

Mumbai: South Indian Bank (SIB) has clocked a net profit of Rs 75.36 crore in Q3 FY 11 as against Rs 62.46 crore in the year-ago period.

The total business of the bank increased from Rs 35,511 crore to Rs 46,186 crore on a year-on-year basis, up 30.06 percent, a press release issued stated.

Deposits increased by 30.79 percent to Rs 26,998 crore from Rs 20,643 crore while advances grew 29.06 percent from Rs 14,868 crore to Rs 19,188 crore, the release added.
  
The current account, savings account (CASA) of the bank increased by Rs 1,046 crore from Rs 4,999 crore to Rs 6,045 crore, up 20.92 percent.

The bank's capital adequacy ratio stands at a healthy 14.89 percent under BASEL II standards against the regulatory requirement of nine per cent, the release added.

PTI

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