South Indian Bank's Profit Steady Rise: A Financial Overview

South Indian Bank reported an 18% jump in profit to Rs 325 crore for Q2 2024. Total income rose to Rs 2,804 crore, driven by interest income. Gross NPAs were reduced to 4.40%, while net NPAs fell to 1.31%, showcasing improved asset management strategies.

South Indian Bank has shown a robust financial performance, announcing an 18 percent increase in net profit, reaching Rs 325 crore for the second quarter ending September 2024.

This significant profit uptick comes as total income surged to Rs 2,804 crore, up from Rs 2,485 crore in the same quarter the previous year, according to the bank's recent regulatory filing.

Notably, the bank decreased its gross Non-Performing Assets to 4.40 percent and net NPAs to 1.31 percent, reflecting enhanced asset management and reduced bad loans.

(With inputs from agencies.)