South Indian Bank announced the first quarter results for the fiscal 2027 on Thursday, July 16. The private lender’s net profit 17.3% surged to Rs 378 crore on an year on year basis.
The bank’s net interest income (NII), the difference of interest earned and interest paid for the April to June quarter rose 23% to Rs 1025 crore from Rs 833 crore in the corresponding period previous year.
The lender’s asset quality marginally improved in Q1FY27, with the gross non-performing assets ratio dipping to 1.38% from 1.43% on a quarter on quarter basis. The net NPA dropped to 0.26% in the quarter under review from 0.29% in the fourth quarter of previous fiscal. Provisions dipped to Rs 84.3 crore in the quarter from Rs 239.3 crore in the same period previous year.